Gate News message, April 17 — Sequoia Capital has raised approximately $7 billion for a new fund under the co-management of Alfred Lin and Pat Grady, marking the firm’s first major fundraising under their leadership. The capital is intended to support large private companies, particularly AI startups including OpenAI and Anthropic, which require substantial spending on computing infrastructure.
The $7 billion fund is approximately twice the size of the $3.4 billion fund Sequoia raised in 2022, providing significantly more capital to deploy in the capital-intensive AI sector.
This fundraising reflects a strategic shift at Sequoia. The firm historically avoided funding direct competitors within the same category—in 2020, it relinquished a $21 million investment in payments company Finix to prevent conflicts with portfolio company Stripe. Today, Sequoia holds stakes in competing AI companies including OpenAI and xAI (Elon Musk’s AI venture), signaling a new approach to portfolio construction in the AI era.
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