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☆ HongShan split from Sequoia last year as US-China relations worsened. Now, it's eyeing up Europe.
▼ + stars: | 2024-03-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +4 min

Last June, storied investor Sequoia Capital announced it was to split itself into three separate entities. Sequoia Capital would look after the US and Europe; Peak XV Partners would manage its investments in India; and HongShan Capital would be based in China. The emergence of HongShan as an active investor in Europe would result in the firm "competing with former family," one source said. The expansion could be aimed at attracting businesses that target the Chinese market or companies set up by Chinese entrepreneurs away from home, the FT said, citing sources who had spoken with Shen. HongShan Capital's most recent fund includes LPs such as CalPERS, the University of Texas Investment Management Company, and the University of Washington endowment.

Persons: HongShan, Neil Shen, Shen Organizations: Sequoia Capital, YouTube, Sequoia, Partners, HongShan, Business, United, Strategic, University of Texas Investment Management Company, University of Washington Locations: China, Europe, India, London, Singapore, Asia

☆ A beginner's guide to mastering your first ski trip, from packing to getting there safely
▼ + stars: | 2024-02-29 | by ( Sponsor Post | Created Insider Studios With Toyota | ) www.businessinsider.com time to read: +4 min

The snow's coming down, and the mountains are calling — a fun-filled ski trip awaits. Pack like a proWhether you're a seasoned professional or crossing your fingers for a perfect first trip, packing efficiently goes a long way. NorCal ToyotaChoose a car built to handle wintry conditionsNothing could slow a ski trip down more than getting stuck in the snow. All in all, the ultimate ski trip is easier than you might think with proper preparation. Learn more about how NorCal Toyota can make your ski trip one to remember.

Persons: you'll Organizations: Toyota, Insider Studios, Northern California Toyota Dealers Locations: Sequoia, Tacoma

☆ Check out the 12-slide pitch deck adtech company Vibe used to raise $22.5 million to build 'the Google Ads of streaming TV'
▼ + stars: | 2024-02-29 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

Founded in France in 2021, Vibe offers a self-service ad platform that aims to make it super-easy for smaller companies to get their ads next to premium TV content. Vibe was carved out from KMTX, which sold to fellow adtech firm Seedtag in 2022 for an undisclosed sum. "We said, OK, let's just build the Google Ads of TV," Querou told Business Insider. "The ad platform for SMBs on broadcasting and streaming TV is difficult to cover because it requires a lot of manpower to be able to address all these SMBs," Kamber said. Check out a redacted version of the pitch deck that helped Vibe nab $22.5 million in Series A funding from Singular, Elaia Partners, Sequoia's Scout fund, Motier, and other individual investors.

Persons: Vibe's cofounders Franck Tetzlaff, Arthur Querou, Querou, Vibe, It's, Raffi Kamber, Kamber Organizations: Vibe, Business, Google, Vibe's, Vibe nab, Elaia Partners, Sequoia's Locations: France, KMTX, Seedtag, adtech

☆ Top investor shares his No. 1 counterintuitive strategy for making tough decisions—it's something 'you haven't even considered'
▼ + stars: | 2023-09-27 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Sequoia Capital managing partner Roelof Botha has a strategy for making tough decisions. He cited Dorsey's own payments business Block, where Botha sits on the company's board, as an example. The company officially launched Square Cash, now known as Cash App, in October 2013. Block now has a market cap of $26.82 billion, as of Wednesday afternoon, and Cash App is responsible for half of its revenue, Botha said. Having a third option helped Block cut what wasn't working, and invest in projects that helped make the company profitable.

Persons: Roelof Botha, Botha, Jack Dorsey, Dorsey, it'd Organizations: Sequoia Capital, YouTube, Starbucks, PayPal, CNBC

☆ As Instacart goes public, it's no victory lap for founder Apoorva Mehta
▼ + stars: | 2023-09-19 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +10 min

Mehta was replaced as CEO of Instacart in July 2021 following a messy dispute with some of the company's largest investors. Instacart Founder Apoorva Mehta in his 2003 yearbook photo from Westdale Secondary School. The app started gaining momentum and Mehta put out ads on Craigslist for shoppers to do the grocery runs for him. Whole Foods reportedly broke the news to Mehta and a fellow Instacart executive on an early morning call. In a sworn affidavit, Mehta denies that he misappropriated any trade secrets and says he's since cut ties with Singh.

Persons: Apoorva Mehta, Mehta, Safeway Mehta, Hamilton Public Library Mehta, Bing Gordon, Kleiner Perkins, Gordon, he'd, Garry Tan, Tan, Garry, Andreessen Horowitz, catapulting Mehta, Forbes, Instacart, Mike Moritz, Fidji Simo, Simo, That's, Mehta's, he's, Tejasvi, Singh, Sam Bankman, NextMed, it's Organizations: Instacart, Safeway, Westdale Secondary, Hamilton Public Library, The University of Waterloo, Amazon, NPR, Electronic Arts, YC, TechCrunch, Sequoia Capital, Khosla Ventures, Forbes, Foods, Costco, Kroger, Facebook, Sunrise Locations: India, Libya, Hamilton , Ontario, Toronto, Seattle, San Francisco, wallowing, Sequoia, Mehta's, Marin County

☆ Instacart's CEO, Sequoia's Michael Moritz and D1's Daniel Sundheim have broken open the locked IPO market. Here's how much money they made.
▼ + stars: | 2023-09-19 | by ( Madeline Renbarger | Samantha Stokes | Vishal Persaud | ) www.businessinsider.com time to read: 1 min

Instacart went public on Tuesday after raising $924 million in its IPO. Many of Instacart's executives, founders, and investors stand to make millions. Instacart's cofounder Apoorva Mehta and CEO Fidji Simo's stakes are worth $1.2 billion and $21.6 million. After a long lull in the IPO market, Instacart has jumped in as one of the first companies to break the tech IPO drought of the past two years and go public. This story is available exclusively to Insider subscribers.

Persons: Instacart, Apoorva Mehta, Fidji, Brandon Leonardo, Max Mullen, Fidji Simo Organizations: Instacart's

☆ Sequoia and Andreessen get hosed on their 2021 Instacart investment, after a 75% plunge in valuation
▼ + stars: | 2023-09-15 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

That's more than 75% below where Sequoia and Andreessen invested in early 2021. At that time, Instacart sold shares at $125 a piece for a $39 billion valuation. The 400,000 shares it purchased in 2021 are a small sliver of the 51.2 million shares it owns. Neither Sequoia nor Andreessen participated in that round. Even if Instacart's IPO can't lift its valuation anywhere near its Covid-era peak, it's likely that Sequoia, Andreessen and other venture firms are hoping it helps lift public investor enthusiasm for new tech stocks.

Persons: Andreessen Horowitz, Instacart, Andreessen, Covid shutdowns, Nick Giovanni, Sequoia's Mike Moritz, Rowe Price, It's, haven't, VCs, DoorDash, hasn't, there's, isn't, Valiant Peregrine Organizations: Sequoia Capital, D1 Capital Partners, Federal, Consumers, Nasdaq, Sequoia, Valiant, D1 Locations: Sequoia, IPOs, U.S, Instacart, SoftBank

☆ Sequoia and Andreessen to take a huge hit on their 2021 Instacart investment, after a 75% plunge in valuation
▼ + stars: | 2023-09-15 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

Persons: Andreessen Horowitz, Instacart, Andreessen, Covid shutdowns, Nick Giovanni, Sequoia's Mike Moritz, Rowe Price, It's, haven't, VCs, DoorDash, hasn't, there's, isn't, Valiant Peregrine Organizations: Sequoia Capital, D1 Capital Partners, Federal Reserve, Consumers, Nasdaq, Sequoia, Valiant, D1 Locations: Sequoia, IPOs, U.S, Instacart, SoftBank

☆ Sequoia-backed insurance tech startup SureIn just raised $4.4 million in seed funding with this 13-slide pitch deck
▼ + stars: | 2023-08-15 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

German insurance tech startup SureIn just raised $4.4 million in a seed funding round. We got an exclusive look at the 13-slide pitch deck it used to raise the fresh funds. German insurance tech startup SureIn has raised $4.4 million in fresh funds. The wider insurance tech market has been difficult for the past year with VC funding to the sector falling dramatically to 2018 levels so far this year. Check out the 13-slide pitch deck SureIn used the raise the fresh funds below:

Persons: I've, Daniel Dierkes, Dierkes, Robin Capital Organizations: Robin Locations: Sequoia's, Berlin

☆ Sequoia Capital's Michael Moritz, who led early bets on the likes of Google and PayPal, is leaving the firm after almost 40 years
▼ + stars: | 2023-07-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Michael Moritz, one of Silicon Valley's best-known investors, is leaving Sequoia Capital. Moritz has spent almost 38 years at the firm and led investments into the likes of Google and PayPal. He will now focus on Sequoia's wealth management unit, The New York Times' DealBook reported. Michael Moritz, one of Silicon Valley's best-known investors, is leaving Sequoia Capital after nearly four decades at the firm, The New York Times reported on Wednesday. DealBook reported that Moritz would continue to represent the firm at a handful of companies but would be replaced on the boards over time.

Persons: Michael Moritz, Moritz, Steve Jobs, Roelof Botha, Sequoia, DealBook Organizations: Sequoia Capital, Google, PayPal, New York Times, The New York Times, Apple, Sequoia, Sequoia Heritage, . Sequoia Capital Locations: Europe, India, Southeast Asia, China

June 15 (Reuters) - Defense startup Mach Industries has raised $5.7 million in a seed round led by Sequoia Capital, the first-ever defense tech investment in the venture capital giant's history, the two companies said. "Defense technology is central to our safety. However, aging defense systems and ailing supply chains mean the U.S. has a big opportunity to innovate in service of national security," Shaun Maguire, partner at Sequoia, who led the deal, told Reuters via email. "There is a major modernization effort underway to advance the U.S. defense technology and build a new generation of military systems." Founded by MIT dropout and Thiel Fellow Ethan Thornton in 2022, Mach Industries focuses on building a hardware solution using field-sourced hydrogen creation and combustion techniques.

Persons: Shaun Maguire, Ethan Thornton, Mach, We've, ” Thornton, Thornton, Krystal Hu, Leslie Adler Organizations: Defense, Industries, Sequoia Capital, U.S, Department of Defense, Sequoia, MIT, Mach Industries, Reuters, Pentagon, Thomson Locations: Silicon Valley, U.S, Austin , Texas, Boston, Austin, San Francisco

☆ European tech fund EQT Growth set to poach investor from Goldman Sachs who will join as a new partner, sources say
▼ + stars: | 2023-06-09 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

European venture fund EQT is set to hire a Goldman Sachs investor as a partner, Insider understands. A managing director from Goldman Sachs Growth Equity is set to join the fund, sources say. An investor at Goldman Sachs' startup investment arm is set to depart the banking giant to join up with Swedish private equity and venture firm EQT Growth, Insider understands. Kirk Lepke, a London-based managing director at Goldman Sachs Growth Equity, is primed to be poached by the Stockholm investor, two sources familiar with the matter said. Both EQT Growth and Goldman Sachs declined to comment.

Persons: Goldman Sachs, Kirk Lepke, Lepke, EQT, Mollie, Lepke's, Julien Bek Organizations: Goldman Sachs Growth Equity, Goldman, DoorDash, Torch, Summit Partners, Apple Locations: Europe, London, Stockholm, New York, Boston, Lithuanian, Crunchbase

☆ Sequoia Capital to split into three parts, separating its China and India businesses
▼ + stars: | 2023-06-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Sequoia partners Roelof Botha, Neil Shen, and Shailendra Singh delivered the update to their limited partners via a joint message. Botha is managing partner for Sequoia's U.S. and Europe business, while Shen and Singh run Sequoia's China and Southeast Asia businesses, respectively. "To deliver on our mission, we have decided to fully embrace our local-first approach," the three partners told their investors. "We've seen growing market confusion due to the shared Sequoia brand as well as portfolio conflicts across entities." Sequoia is one of the world's top venture funds, with notable investments in Apple, Google, Paypal, and Zoom.

Persons: Roelof Botha, Neil Shen, Shailendra Singh, Botha, Shen, Singh Organizations: Sequoia, Sequoia's, XV Partners, Apple, Google, Paypal Locations: China, U.S, Europe, Southeast Asia, India

☆ The decision to split Sequoia Capital into 3 entities puts to bed any questions of a power struggle at the VC powerhouse
▼ + stars: | 2023-06-06 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

VC powerhouse Sequoia Capital announced Tuesday that it is splitting into three entities. One of those entities, Sequoia China, known locally as HongShan, will operate as a distinct firm. The mighty Sequoia Capital is dropping branches. The decision puts to bed any question of a power struggle at one of Silicon Valley's most respected firms. And unlike some other global firms that had veto power over investments overseas, according to Bloomberg, Sequoia China had full autonomy to strike its own deals.

Persons: Roelof Botha, Neil Shen, Forbes, Alex Konrad, Doug Leone, Instagram, Bytedance, Botha, Shen, Julian Bek, Elon Musk's Organizations: Sequoia Capital, Sequoia, XV Partners, YouTube, Bloomberg, Shen, Sequoia China, Ventures, Lightspeed Venture Partners, Accel, Elon, Twitter, Fidelity Locations: Sequoia China, China, Europe, HongShan, India, Southeast Asia, Sequoia, Sequoia Capital China, Asia, Silicon Valley, London, FTX

☆ Sequoia bolsters London office with sixth partner hire as VC firm unveils radical restructure
▼ + stars: | 2023-06-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Venture capital firm Sequoia has hired a sixth partner for its London office, Insider understands. Venture capital firm Sequoia has bolstered its presence in Europe with the hire of its sixth partner in London, Insider understands. "Since Julien joined us as an associate five years ago, he's become a valued member of our London team," Accel partner Sonali De Rycker said. Sequoia will expand in Europe despite a broader contraction in venture capital funding to European startups. Sequoia has closed 21 deals in Europe in the three years since it opened in London, Crunchbase data shows.

Persons: Julien Bek, Accel's Luciana Lixandru, Sequoia's Lixandru, Bek, Julien, he's, Sonali De Rycker, Slay, Matt Miller, George Robson, Anas Organizations: Sequoia, . Venture, Apple, Accel, London, Investment, Investments, Trade Republic, Global Founders Capital, Revolut Locations: Sequoia, Europe, London, California, China, India, Southeast Asia, Geneva, Switzerland, Lixandru

☆ Who's going to work on all these AI projects at the big banks?
▼ + stars: | 2023-05-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Everyone seems to agree that artificial intelligence is going to upend Wall Street. Insider's Paige Hagy and Bianca Chan have a fascinating story on how AI talent doesn't seem to be sticking around at big banks. What's even more foreboding is that AI talent isn't leaving for other banks. But struggling to hold on to AI talent seems especially concerning when one considers what's at stake — like, uh, humanity — and the speed at which it'll happen. Here are the three reasons banks can't seem to hold on to AI talent.

☆ 10 things in tech: Epstein appeared to threaten Gates, Apple gets its AI cut, and a Twitter hotel
▼ + stars: | 2023-05-22 | by ( Michael Cogley | ) www.businessinsider.com time to read: +4 min

The Cupertino-based tech giant is taking its usual 30% cut from users signing up to ChatGPT Plus through the app, according to a note from Bernstein analysts. A spokesperson for Gates told the WSJ that Epstein had "tried unsuccessfully to leverage a past relationship" to threaten the tech billionaire. Microsoft's marketing chief told staffers to bump the stock prices for raises. The tech giant has already managed to outpace the market with shares up 33% so far this year. The tech giant just launched two new Pixel phones.

☆ VC firm Sequoia is pulling out all the stops to dominate AI, insiders say. The firm is using everything from 'speed dating' to star studded summits to woo founders.
▼ + stars: | 2023-05-22 | by ( Stephanie Palazzolo | Ben Bergman | ) www.businessinsider.com time to read: +10 min

It's just one move of many the VC firm has taken to cement its position in the white-hot AI space. Huang and Grady wrote a public blog post on Sequoia's website inviting AI founders to email them their ideas and pitches directly. But the firm has been louder where it counts, investing in splashy AI startups like Harvey and LangChain. Every member of the firm, from managing partner Roleof Botha on down, has made AI a top priority, with Grady, Huang, and Buhler most prominently involved. Both Huang and Buhler now spend over 90% of their time researching AI companies, versus 50% in previous years, they said.

☆ 'PayPal Mafia' member says Google and Meta intentionally overhired engineers to prevent them from working at other companies.
▼ + stars: | 2023-03-09 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

"PayPal Mafia" member says Google and Meta "do fake work." The companies over-hired thousands of employees to fulfill a "vanity metric," said investor Keith Rabois. He's part of the infamous PayPal cohort (pictured above — he's number nine) that went on to play influential roles at other major tech companies. Rabois estimates that Facebook parent company Meta and Google each have thousands of employees who don't do much. He even suspects that Google intentionally overhired engineers to prevent them from working at other companies.

☆ Half of Sequoia Capital's VC funds since 2018 have posted losses for the University of California's endowment
▼ + stars: | 2023-03-08 | by ( Ben Bergman | Darius Rafieyan | ) www.businessinsider.com time to read: +6 min

The University of California endowment has invested over $800 million in Sequoia funds since 2018. The returns show ten Sequoia funds across all stages and geographies are now underwater for the investor. The University of California's massive $28 billion endowment, a limited partner in 20 Sequoia Capital funds since 2018, is underwater on half those investments, according to documents obtained by Insider. Meanwhile ten of the Sequoia funds that UC Investments has invested in have been marked down in value on paper. One of UC Investment's largest commitments to Sequoia is $232 million earmarked for the 2022 Sequoia Capital Fund.

☆ Sequoia Capital cuts fees for new funds amid VC slowdown
▼ + stars: | 2023-01-13 | by ( Krystal Hu | ) www.reuters.com time to read: +2 min

Jan 13 (Reuters) - Sequoia Capital has lowered management fees in its two recently-launched venture funds as it braces for a slower investment environment, partner Alfred Lin said on Thursday. Sequoia launched a $950 million ecosystem fund to back scouts and funds formed by Sequoia alums, and a $600 million crypto fund to invest in crypto companies and tokens. So far, 10% of the crypto fund has been deployed, Lin said. The move marks an unusual concession by the world’s top venture investor after U.S. venture capital deals fell from their 2021 peak by 31%. Lin said the firm remained committed to crypto investment.

☆ Exclusive: Nexus Venture eyes $700 million fund to bet on India, U.S. tech startups
▼ + stars: | 2023-01-04 | by ( M. Sriram | ) www.reuters.com time to read: +3 min

It would also expand the pool of funds available to startups, at a time when fundraising by Indian startups fell by a third last year to $24 billion, Venture Intelligence data showed. Founded in 2006, Nexus was one of the first Indian venture capital firms to invest in U.S. and India-based software startups. The new fund will be its seventh so far and take the firm's assets under management to more than $2 billion. The new fund has received a strong response from endowments, one of the sources said, without sharing names of any specific investors. Nexus was co-founded by Naren Gupta who ran a software company in the United States for 15 years before selling it to Intel.

☆ Think long-term, grab land, watch your runway: Here's how European VCs are advising their founders ahead of a looming recession
▼ + stars: | 2022-12-29 | by ( Tasmin Lockwood | Callum Burroughs | ) www.businessinsider.com time to read: +4 min

Sequoia's iconic 2008 'R.I.P Good Times' presentation still rings true for some investors. Good Times" presentation from 2008. "Because people are so programmed with the whole RIP Good Times thing, the nuance gets lost sometimes." Magda Lukaszewicz, principal at Balderton, echoed this – even if it takes companies longer to achieve said goals. Sequoia's "RIP Good Times" ends on a bleak note: Get Real or Go Home.

☆ Workday names Sequoia's Carl Eschenbach as co-CEO, alongside Aneel Bhusri
▼ + stars: | 2022-12-20 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Workday said on Tuesday that co-CEO Chano Fernandez is leaving the company and being replaced by Sequoia Capital's Carl Eschenbach, a former VMware executive and member of Workday's board. Eschenbach will serve alongside Aneel Bhusri, who co-founded the company in 2005. Bhusri became a co-CEO again in 2020 with the appointment of Fernandez, a former SAP executive who joined Workday in 2014. Before Workday, Bhusri held leadership roles at PeopleSoft, which Oracle acquired in 2005 for $11.1 billion. WATCH: Workday co-CEO on the firm's quarterly results and why its finance applications saw strength

☆ Andreessen Horowitz's buzzy tech publication Future is shutting down
▼ + stars: | 2022-12-01 | by ( Rob Price | Melia Russell | ) www.businessinsider.com time to read: +12 min

A source familiar with Andreessen Horowitz's content strategy confirmed to Insider that Future is shutting down. An Andreessen Horowitz spokesperson declined to comment on the record. Joe LonsdaleIn this new climate, many tech and venture firms' media strategy has shifted from glorified marketing to a more full-fledged editorial operation. In 2021, an army of more than two dozen marketers at Andreessen Horowitz doubled down on this approach. Disclosure: Melia Russell's husband is a former employee of Andreessen Horowitz.

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