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Sequoia Seeks to Raise $7 Billion for New Funds as Markets Reel

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Sequoia Capital is seeking to raise about $7 billion for a set of venture funds, according to a person familiar with the situation. The investment vehicles are the latest in a series focused on China, India and the U.S.

The effort marks a major fundraising push at a time when many investors are taking a cautious stance. The coronavirus pandemic has sent stock markets tumbling and has economists warning of a global recession. Sequoia, a firm with a nearly 50-year track record whose funds are typically oversubscribed, is better suited than many rivals to raise capital in this environment. A spokeswoman for Sequoia said she couldn't comment on the fundraising plans, which were earlier reported by the Wall Street Journal.