Sequoia, a staple name within the venture capital industry and an investor in many large tech companies such as Airbnb, Stripe, Instagram, WhatsApp, Apple, and others has launched a new fund targeting the crypto industry.
They have raised $600 million for this sub-fund, which is enough to get it started. The announcement was made on their website and they gave a broad overview of their vision.
“Our goal with this fund is to participate more actively in protocols, better support token-only projects, and learn by doing ourselves. We remain committed to working collaboratively with the crypto community, including providing ongoing support for open-source research. We will also continue to partner with crypto teams across every stage of their journey out of our seed, venture, growth, and expansion funds. Sequoia Crypto Fund is one of the first sub-funds to invest out of our new capital structure, the Sequoia Capital Fund.”
Sequoia is no stranger to the crypto industry. They are an investor in FTX, one of the world’s largest crypto exchanges. This new fund will further solidify its presence within the space by investing in opportunities that can have a great impact on the industry.
