Sequoia Capital Raises Bulk of $8 Billion Venture Fund

Sequoia Capital has raised more than $6 billion toward what is already the biggest U.S. venture capital fund, with plans for more, said a person familiar with the matter.

The Silicon Valley venture firm is targeting $8 billion for the new global growth fund, said the person, who asked not to be identified because the fundraising effort hasn’t completed. Financial commitments to Sequoia Global Growth III have come largely from new investors to the firm. Sequoia Capital plans to tap existing investors for about $2 billion more.