Venture capital titan Sequoia is splitting its business into three independent partnerships, each with separate brands.
The Silicon Valley-based firm’s expansive investments in China, which have drawn attention from US lawmakers amid growing geopolitical tensions with Beijing, will become their own unit.
Sequoia Capital executives briefed investors Tuesday about the plans, which are expected to be completed by March 2024. The firm’s operations in Europe and the United States will retain the current name, Sequoia Capital. Its Chinese unit, Sequoia China, will use its current Chinese name, HongShan. The company’s business operations in India and Southeast Asia will be spun off into a partnership named Peak XV Partners.
The firm is known for investing early in globally successful US companies such as Google, Apple, Airbnb and a long list of others. The company came under fire earlier this year for hyping the failed cryptocurrency exchange FTX in 2021, but the firm remains a force to be reckoned with in the world of venture capital.