Sequoia’s China and India and Southeast Asia funds are shedding their brand ties, becoming new firms HongShan and Peak XV Partners.
Shen remains a board director at ByteDance, and declined to comment specifically on that investment. But speaking generally, he rejected the notion that a separation of the funds would make it easier for China-based companies to go public, either in Hong Kong or elsewhere. “These are no longer young companies,” he said. “I don’t want to overestimate our ability to help a company IPO simply because we have meaningful ownership.
From his Singapore base, Singh noted that frustration could run both directions: he told the story of a prominent U.S. tech company that complained to its Sequoia partner in the U.S. about a Sequoia India investment it believed would be competitive in the future. But Singh’s team had written their check more than a year before, he said. Sequoia India has since cashed out, without the US. unicorn ever launching a rival tool.
in January, the China unit has more recently prioritized non-tech investments, including in infrastructure, as well as its hedge fund public equities practice.n the U.S. and Europe, Sequoia — named after California’s famous redwood trees by the late Don Valentine, who had said he wanted the firm’s name to outlast his own — will remain Sequoia. So will remain two other independent businesses, Sequoia Heritage and Sequoia Capital Global Equities .
Because Singh’s funds were already registered in Mauritius, which he said restricts funds to fewer than 100 limited partners each, Peak XV’s limited partner base was already only partially overlapping with the other Sequoia regions. That would continue, he added. “We love Sequoia, but our brand is our relationships, and we feel our own brand is strong,” Singh said. “It will take us forward in a nice way.
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