Neil Shen, founding partner of Sequoia Capital China.
Nelson Ching | Bloomberg | Getty Images
Sequoia Capital, one of the world’s largest venture firms,
Sequoia Capital to split into three parts, separating its China and India businesses
“To deliver on our mission, we have decided to fully embrace our local-first approach,” the three partners told their investors.
The move will be completed no later than March 31, 2024, the partners said.
The U.S. firm will retain the Sequoia branding. Shen’s Chinese fund, which has been increasingly seen as an independent entity even before the move, will take the name HongShan in English. Singh’s Indian unit will be named Peak XV Partners.
“It has become increasingly complex to run a decentralized investment business,” the executives wrote in their message to investors. “We’ve seen growing market confusion due to the shared Sequoia brand as well as portfolio conflicts across entities.”
Sequoia is one of the world’s top venture funds, with notable investments in Apple, Google, Paypal, and Zoom.
A Sequoia representative did not immediately respond to a request for comment.
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