Sequoia Capital, the 46-year-old venture firm, has secured $6 billion in capital commitments for an $8 billion global fund, according to a new report in the Financial Times. The report echoes a late April piece in The Wall Street Journal that reported Sequoia investors had already committed “roughly” $6 billion to the new fund.
A source familiar with the matter confirms for us that both stories are accurate.
The capital commitments thus far have come from investors with no prior relationship to Sequoia. The firm intends to turn to its previous investors for the rest of the capital commitments, which Sequoia is securing in increments of $250 million or more. [ Tech Crunch ]