The Silicon Valley-based venture capital giant said its Chinese and Indian operations will be “completely independent” entities from its U.S. business. Sequoia Capital China, which manages US$56 billion in assets, will be rebranded as HongShan. The Sequoia India/Southeast Asia business, with US$9 billion in assets, will become Peak XV Partners. (The Logic)
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The Silicon Valley-based venture capital giant said its Chinese and Indian operations will be “completely independent” entities from its U.S. business. Sequoia Capital China, which manages US$56 billion in assets, will be rebranded as HongShan. The Sequoia India/Southeast Asia business, with US$9 billion in assets, will become Peak XV Partners. (The Logic)
Talking point: Sequoia—one of the world’s most renowned venture investors—has backed plenty of high-profile tech companies in both markets, particularly in China where its investments include TikTok parent firm ByteDance, fintech company Ant Group and fast-fashion retailer Shein. The rebranding comes amid mounting geopolitical tensions between Beijing and Washington, and regulatory uncertainty for U.S. investors in China. “It has become increasingly complex to run a decentralized investment business,” Sequoia executives wrote in a message to the fund’s limited partners Tuesday.
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