What is your take on this? :point_right: Sequoia reportedly reduced the size of its cryptocurrency fund from $585M to $200M as it seeks to refocus investments into smaller startups. The venture capital firm is also said to have reduced the amount earmarked for investing in other funds from $900M to $450M.
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Sequoia had reportedly notified its liquidity providers of its intentions to reduce fund sizes in March.
The crypto fund was launched in Feb. 2022. At the time, the market capitalization of the entire sector had been reduced by 39.1% versus the all-time high of $3T in Nov. 2021.
Sequoia was one of the investors in FTX with $214M, which by Nov. 2022, was marked down to $0.
More:
Sequoia had reportedly notified its liquidity providers of its intentions to reduce fund sizes in March.
The crypto fund was launched in Feb. 2022. At the time, the market capitalization of the entire sector had been reduced by 39.1% versus the all-time high of $3T in Nov. 2021.
Sequoia was one of the investors in FTX with $214M, which by Nov. 2022, was marked down to $0.
