ISSUE – Dec. 21 | Sequoia is raising a new fund that could top $6 billion, as pressure from SoftBank’s mega-fund increases on Silicon Valley VCs

Call it the SoftBank Effect. According to sources close to the situation, the high-profile venture capital firm Sequoia Capital is in the early of raising a third global growth fund that could range from $5 billion to $6 billion. 

Sources said a numbers of other funds in Silicon Valley are also considering fundraises of this magnitude or even higher, prompted, in part, by the pressure to have larger pools of capital to deploy in the wake of SoftBank’s $100 billion Vision Fund. [ Recode ]

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