Sequoia has launched its newest fund focused on seed-stage companies across the US and Europe, with Crunchbase reporting the vehicle has raised $195 million.
- In 2019 and 2020, the firm made more new seed-stage investments than Series A deals. Sequoia closed its previous seed fund on $180 million in 2018, TechCrunch reported.
- Crunchbase reported that the new fund will also back investments made through the firm's Scout program, an initiative launched in 2009 that allows Sequoia to work with a network of individuals to source new early-stage investments in startups.
- Sequoia's seed investments include cybersecurity specialist Stairwell, alternative asset management company Alto, and Mira, an augmented reality company.
- While the pandemic presented challenges for emerging fund managers, 2020 was a robust year for more mature firms such as Sequoia. Established VC firms represented more than 70% of total fundraising for the first time since 2014, and that share is projected to exceed 75% in 2021, according to the Q4 2020 PitchBook-NVCA Venture Monitor.