Crypto investor Sequoia Capital China reportedly raises $9 billion
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Sequoia Capital China is about to raise $9 billion for its four new funds focused on Chinese startups. The funding round signals the growing investor appetite for tech investment in China. The move comes despite a major decline in the stock market and China's crackdown on tech companies, which triggered a slowdown in investments by Sequoias's global competitors. The firm is one of the world’s biggest tech VC firms, known for investing in TikTok operator ByteDance and a number of crypto and blockchain-related firms, including the troubled Asian crypto lending platform Babel Finance, which halted withdrawals in mid-June amid the ongoing crypto lending crisis. The Information news agency reports that the final amount of the raise is supposed to be the biggest pool of capital Source