Sequoia Capital Launches $500-600 Million Crypto Investment Fund

Venture capital firm Sequoia Capital is reportedly raising between $500 million and $600 million for its first industry-specific crypto fund. One of the first sub-funds launched after the firm announced a significant restructuring in October. Sequoia pools all of its investments through the Sequoia Fund, an open-ended liquid portfolio is consisting of public positions in a select group of companies. The fund allocates funds to a series of closed-end sub-funds. In addition, the firm has confirmed an ecosystem sub-fund of $900 million to $950 million to allow selected founders of portfolio companies to invest in other related companies and an expanded sub-fund of $3.2 billion to $3.5 billion focused on Growth stage companies.