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Search resuls for: "Sequoia's"


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☆ 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.
☆ 'We're going to dream a little less': Sequoia's Doug Leone on fallout from FTX's collapse
  + stars: | 2022-11-18 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
Doug Leone, managing partner at Sequoia Capital LLC, speaks during the Bridge Forum conference in San Francisco, California, U.S., on Wednesday, April 17, 2019. The event brings together leaders in finance and technology from Asia and Silicon Valley to connect and share insights. HELSINKI, Finland — Billionaire venture capitalist Doug Leone said there wasn't much his firm Sequoia Capital could do to predict the solvency crisis at FTX. Without mentioning FTX by name — though strongly hinting at it ("I'm not going to mention any acronyms") — Leone, Sequoia's global managing partner, said Sequoia had done "careful due diligence" on FTX. Sequoia was one of numerous blue-chip funds that backed FTX before its demise.
☆ Canada's largest pension fund CPPIB among the investors indirectly hit by FTX blowup
  + stars: | 2022-11-15 | by ( Danielle Walker | ) www.businessinsider.com   time to read: +4 min
The Canada Pension Plan Investment Board had an indirect exposure to FTX through a Sequoia private-equity fund it was invested in. Ontario Teachers' Pension Plan said last week that it had invested a total of $95 million in FTX International and its US entity since October 2021. The Canada Pension Plan Investment Board, one of the world's largest pension funds, can be counted among the investors now impacted, either directly or indirectly, by the blowup of crypto exchange FTX. Toronto-based CPPIB has an indirect exposure to FTX through its investment in a Sequoia Capital private-equity fund. Sequoia's other impacted fund, SCGE Fund, L.P. had $63.5 million invested in FTX and FTX US, according to the firm's letter to clients.
☆ Sequoia Capital took a $213 million bath on FTX after the crypto exchange imploded. That's not that bad, VCs say.
  + stars: | 2022-11-10 | by ( Melia Russell | ) www.businessinsider.com   time to read: +6 min
FTX investor Sequoia Capital has marked down its position to $0 as the crypto exchange crumbles. Sequoia Capital now views its $213.5 million investment in FTX as worthless as the crypto exchange teeters on the brink of collapse after an eleventh-hour deal to salvage the business fell apart. "Somehow Sequoia capital turned a FTX write down to zero into a humblebrag. It invested $150 million into FTX through its third growth fund, which Sequoia said totaled less than 3% of that fund's capital commitments. In its letter to investors, Sequoia said it does "extensive research and thorough diligence" on every investment it makes.
☆ FTX investor Sequoia removed its glowing 13,000-word profile of Sam Bankman-Fried and replaced it with somber note after its investment cratered to $0
  + stars: | 2022-11-10 | by ( Britney Nguyen | ) www.businessinsider.com   time to read: +3 min
VC firm Sequoia Capital removed a lengthy September profile of FTX founder Sam Bankman-Fried this week. The URL now shows Sequoia's note telling investors it's marking down its $214 million FTX investment to $0. The profile of Bankman-Fried recounted his first pitch to Sequoia during his Series B round. Sequoia linked to its letter about marking down its investment in FTX from around $214 million to $0. The now-removed Sequoia profile is still available to read on the Internet Archive's Wayback Machine.
☆ Sam Bankman-Fried was once caught playing the video game 'League of Legends' during a pitch meeting for FTX
  + stars: | 2022-11-10 | by ( Britney Nguyen | ) www.businessinsider.com   time to read: +4 min
Sam Bankman-Fried was once caught playing 'League of Legends' at a meeting with Sequoia investors. Now, Bankman-Fried is reportedly telling investors FTX needs a $8 billion to avoid bankruptcy. "And it turns out that that f-cker was playing 'League of Legends,' through the entire meeting." Arora said Bankman-Fried was "absolutely fantastic" while answering questions from the Sequoia partners during a Zoom meeting when FTX was raising its Series B. The Zoom chat among the Sequoia partners was full of praise and excitement for Bankman-Fried, according to the article.
☆ Sequoia Capital marks down its FTX investment to $0
  + stars: | 2022-11-10 | by ( Jihye Lee | ) www.cnbc.com   time to read: +1 min
Venture capital firm Sequoia Capital said it will mark down to zero its investment of over $210 million in cryptocurrency exchange FTX, as possibilities of bankruptcy loom. "In recent days, a liquidity crunch has created solvency risk for FTX," Sequoia said in a note to investors posted on Twitter. "Based on our current understanding, we are marking our investment down to $0," the Silicon Valley-based firm said Wednesday. FTX, owned by 30-year-old entrepreneur Sam Bankman-Fried, was valued at $32 billion earlier this year. Sequoia's announcement comes as rival exchange Binance's CEO Changpeng Zhao backed out of a proposed deal to purchase FTX, leaving the beleaguered firm at risk of a liquidity crisis.
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