Sequoia Capital’s China Arm Raises $9 Billion, Exceeding Target

Sequoia Capital’s Chinese affiliate is about to close $9 billion in fresh capital for four new funds, higher than its original target of more than $8 billion, according to two people familiar with the fundraising.

The final amount could represent the biggest pool of capital ever raised by a single venture capital firm to bet on Chinese technology startups. It also shows how Sequoia Capital China and its backers, including numerous U.S. institutional investors, continue to make aggressive moves despite the downturn in tech stocks and private valuations, which prompted some of Sequoia’s global rivals slow down their pace of investment.