Sequoia Capital plans to raise between $500 million and $600 million for the first sub-fund focused on liquid tokens and cryptocurrencies. The new structure will allow the venture company to more actively manage investments. According to the announcement made by the company:
“While we have invested in both equities and tokens over the past five years, many have asked us to take a more active role in managing our tokens, including staking them, providing liquidity, and participating in management and trading through their platforms. Our network of developers across Ethereum, Solana, major DeFi protocols, and more has urged us to do the same.”
The Sequoia Crypto Fund is one of the first sub-funds to launch after the massive restructuring announced in October 2021. Now the company directs all investments through the open fund Sequoia Fund.
The latter is a perpetual liquid portfolio of public positions. It is this structure that distributes capital among the sub-funds.