They may be advising their funded companies to prepare for hard times ahead but the VC’s at Sequoia were the top rain makers in Q3, raising nearly a billion dollars for its US Growth Fund IV. The fund will invest in mature companies that they presently have no stake in. In a retracting economy, Sequoia shouldn’t get nicked they way they did when they funded at the top of the bubble, but falling valuations mean a lower cash outlay and possible excess cash on hand. The company will have to search a bit harder for investments but rest assured they’ll find a few.
Sequoia Capital Raises $925 Million for New Fund