Sequoia Capital is an American venture capital firm. The firm is located in Menlo Park, California and mainly focuses on the technology industry. It has backed companies that now control $1.4 trillion of the combined stock market value. Sequoia manages multiple investment funds including funds specific to India, Israel, and China.
|United States, China, India, Israel|
Sequoia was founded by Don Valentine in 1972 in Menlo Park, California. In the mid-1990s, Valentine gave control of the company to Doug Leone and Michael Moritz. In 1999, Sequoia expanded its operations to Israel. Sequoia Capital China was established in 2005 as an affiliate to the U.S. firm. In 2006, Sequoia Capital acquired Westbridge Capital Partners, an Indian venture capital firm. It later was renamed Sequoia Capital India. CB Insights recognized Sequoia Capital as the number one venture capital firm in 2013. The U.S. firm had 11 partners as of 2016.
In 2015, Sequoia drew criticism after Moritz responded to questions about why the U.S. firm had never had a female investing partner by saying Sequoia was looking for women to hire, but "[w]hat we’re not prepared to do is to lower our standards." Members of the media, technology, and investment communities criticized the statements as suggesting "smart, driven, capable young women interested in working in technology...don’t exist." Moritz subsequently issued a statement saying, "I know there are many remarkable women who would flourish in the venture business" and said the firm was working to find them. In 2016, Sequoia hired Polyvore CEO Jess Lee as an investing partner, making her Sequoia's first female investing partner in the United States as well as one of its youngest partners.
The firm invests in both public and private companies. It specializes in incubation, seed stage, startup stage, early stage, and growth stage investments in private companies. It has raised a number of funds.
Sequoia Capital has invested in over 250 companies since 1972, including Apple, Google, Oracle, PayPal, Stripe, YouTube, Instagram, Yahoo! and WhatsApp. The combined current public market value for these companies is over $1.4 trillion, equivalent to 22 percent of Nasdaq. Its portfolio is mainly in financial services, healthcare, outsourcing, and technology. As of 2017, they have exited in 68 initial public offerings and 203 acquisitions.
- Mazel tov, Israeli startups: Sequoia Capital raise $200M to fund you, Meghan Kelly, August 23, 2012, Venture Beat, retrieved May 12, 2016
- Secretive, Sprawling Network of ‘Scouts’ Spreads Money Through Silicon Valley, Rolfe Winkler, November 12, 2015, Wall Street Journal, retrieved May 12, 2016
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- Sequoia Capital reportedly mulling new $800M India fund, may start raising October, Michael De Waal-Montgomery, VentureBeat, retrieved May 12, 2016
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- Sequoia's Neil Shen Tops Forbes China Ranking Of Best Venture Capital Investors, Russell Flannery, January 15, 2014, Forbes, retrieved May 12, 2016
- With WhatsApp deal, Sequoia Capital burnishes reputation, Sarah McBride, February 21, 2014, Reuters, retrieved May 12, 2016
- Israel's Most Important Source of Capital: California, Darwin Bond-Graham, August 20, 2014, CounterPunch.org, retrieved May 9, 2016
- How Neil Shen Built A Winner At Sequoia Capital China, April 2, 2014, Alex Konrad, Forbes, retrieved March 30, 2016
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- Garner, Rochelle (October 20, 2016). "VC Moritz, unable to find qualified women, finally hires one". CNET. Retrieved November 27, 2016.
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- "Unicorn Outcomes: Sequoia Capital Sees The Most $1B+ Exits And Tends To Get In Early". CB Insights Research. 19 April 2017. Retrieved 31 March 2018.