Report: Sequoia Capital’s New China Fund to be Worth $325 Million

The Silicon Valley venture capital firm Sequoia Capital is reportedly close to finalizing three major new funds which will pack a total of nearly $1 billion. The trio of separate funds will include, says Bloomberg, $325 million for a China venture fund. The other two will be focused on startups in the US and Israel.

Bloomberg is hearing that the new funds will be closed next month, but it’s not known when they’ll be ready to roll into action. Sequoia is celebrating its 40th anniversary this year, and already has offices in the three afore-mentioned nations.

Sequoia Capital has long been very active in Asia – and especially in China. It is thought to have taken part in the recent $60 million fund-raising by Dianping, China’s largest Yelp-like site, having participated in earlier rounds. Sequoia also backed the last major Chinese tech IPO in the States, the flash deals site VIPShop (NYSE:VIPS), in which the VC firm has a 20 percent stake.

And, last December, Sequoia entered into a joint-venture with China’s Zhenfund, called Zhenfund 2.0, which packs a total of $200 million in investment potential.

[Source: Bloomberg]