Global venture capital giant Sequoia announced Tuesday that it is planning to separate its China, and India and Southeast Asia businesses into two independent firms.
The China and India and Southeast Asia businesses will become independent and distinct with separate brands, by March 31, 2024, Sequoia said in a statement signed by managing partners Roelof Botha, China head Neil Shen and India head Shailendra Singh.The decision comes amid macroeconomic and geopolitical challenges that have made fundraising difficult and eaten into venture funds' returns.
Investing in China by global investors, in particular, has slowed significantly as the world's second largest economy grapples with economic woes after pandemic curbs eased and since it tightened regulatory oversight that stymied growth in the technology and internet sectors. Sequoia China will retain its current Chinese name and adopt the name HongShan in English, while Sequoia India and Southeast Asia will become Peak XV Partners, the firm said.
The firm partnered with local leaders in China and India and Southeast Asia over 15 years ago, according to the statement. Sequoia China, founded and led by former entrepreneur and investment banker Shen, has invested in over 1,200 companies in technology, consumer and healthcare sectors.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Sequoia Capital to split into three parts, separating its China and India businessesThe global venture capital firm said it had become increasingly complex to run a global business, and that the split would be completed by March 2024.
Weiterlesen »
Venture-Capital Firm Sequoia to Separate China Business as Political Tensions RiseVenture-capital powerhouse Sequoia will separate its China and other Asia operations from its U.S. business amid escalating tensions between Beijing and Washington
Weiterlesen »
Sequoia Is Splitting Into Three VC FirmsSequoia’s China and India and Southeast Asia funds are shedding their brand ties, becoming new firms HongShan and Peak XV Partners.
Weiterlesen »
Sequoia Is Splitting Into Three VC FirmsSequoia’s China and India and Southeast Asia funds are shedding their brand ties, becoming new firms HongShan and Peak XV Partners.
Weiterlesen »
Pentagon chief Austin discusses upgrading ties with India to counter ChinaU.S. Defense Secretary Lloyd Austin on Monday discussed upgrading partnership with India, a major arms buyer, and set a roadmap for cooperation for the next five years as both countries grapple with China’s economic rise and increased belligerence, officials said.
Weiterlesen »
Venture capital giant Sequoia divides itself into three firms by geographySequoia Capital, the Menlo Park, Calif.-based venture capital firm with assets of $35 billion, plans to divide itself up into three firms based on geography,...
Weiterlesen »