Image Source: Visual China

Beijing, July 5 (TMTPOST) – Sequoia Capital China, led by Neil Nanpeng Shen, has reportedly raised around US$9 billion in funding, according to sources.

It is said that the fund raised will be used for investing in technology and healthcare.

Sources said that the fund comes from pension funds, endowment funds and family wealth management offices in North America, Europe, the Middle East and Southeast Asia. Sequoia Capital China holds positive attitudes towards China’s long-term growth and is willing to invest in cutting-edge technologies that can drive the development of the pharmaceutical and healthcare industry.

The fund will be reportedly allocated to four foundations under Sequoia Capital China which are Expansion Fund I, Seed Fund III, Venture Fund IX and Growth Fund VII.

The funding received positive response from investors, sources familiar with the matter said. It was reported in earlier in March that Sequoia Capital China had raised nearly US$8 billion.

Sequoia Capital China said in an email statement that it declined to comment on the news report.

In the past ten years, Sequoia Capital and its Beijing subsidiary (Sequoia Capital China) had poured in over US$10 billion in many startup companies in the Chinese market. The firm is dedicated to becoming a strong investor in China. Sources said that the healthcare industry accounts for one third of the company’s investment portfolio, while tech and consumer business startups also account for one third of the portfolio respectively as well.

Sequoia Capital is an American venture capital firm. The firm is headquartered in Menlo Park, California and specializes in seed stage, early stage, and growth stage investments in private companies across technology sectors. Notable successful investments by Sequoia Capital include Apple, Cisco, Google, Instagram, LinkedIn, PayPal, Reddit, Tumblr, WhatsApp, and Zoom.