The China arm of Sequoia Capital has attracted $9 billion in fresh capital to support startups in the country, The Information first reported.
The increase came at a time when global investors are reassessing risks in China amid a COVID-hit economy and an ongoing regulatory crackdown on the country’s internet newcomers.
Fresh capital came from pensions, endowments and family offices in the United States, Europe, the Middle East and Southeast Asia, Bloomberg reported.
With the new financial injection, the company will continue to bet on Chinese startups focused on deep tech, healthcare and consumer tech.
We have reached out to Sequoia Capital China for comment.