Sequoia Capital, one of Silicon Valley’s most prominent venture capital firms, is breaking itself up, spinning out its Chinese unit into an independent company at a time of rising tensions between China and the United States over investment and access to advanced technologies.
The firm announced on Tuesday that it planned to split into three independent partnerships, with its businesses in China and India adopting new brands and the firm in the United States and Europe retaining the Sequoia name.
The firm’s global footprint had become “increasingly complex” to manage, said a statement from Sequoia’s managing partner Roelof Botha; the firm’s China head, Neil Shen; and its India head, Shailendra Singh.
“Increasingly, we deal with portfolio conflicts across entities because founders really now have global ambitions,” Mr. Botha said.
“And the brand confusion was just starting to chafe at everybody.”
Persons:
Roelof Botha, Neil Shen, Shailendra Singh, Botha, ”, “, ” Mr
Organizations:
Sequoia
Locations:
China, United States, India, Europe