Sequoia Capital’s Chinese arm has pulled $9 billion in new capital to support startups in the country, The Information First mentioned.
The increase came at a time when global investors are reassessing the risks in China amid the economy affected by the Corona virus and the ongoing regulatory crackdown on Internet startups in the country.
New capital came from pensions, endowment funds and family offices from the United States, Europe, the Middle East, and Southeast Asia, Bloomberg mentioned.
With the new financial injection, the company will continue to bet on Chinese startups focused on deep tech, healthcare, and consumer technology.
We have reached out to Sequoia Capital China for comment.
More is coming…