Sequoia Capital splits up, with China and India units to become independent

Jun 20, 2023

Illustration: Aïda Amer/Axios

Sequoia Capital is returning to its roots, announcing on Tuesday that its China and India affiliates each will become independent entities.

Why it matters: Sequoia is one of the world's oldest venture capital firms, and arguably its most successful.

Backstory: The firm was founded over 50 years ago in Silicon Valley, backing such companies as Apple, and made its first international foray with an Israeli fund during the dotcom boom.

Details: The decoupling, or detripling as it were, is expected to be completed by March 31, 2024.

Behind the scenes: My understanding is that Sequoia partners have long made personal investments in Sequoia funds outside of their own region, such as a Menlo Park-based investor participating in a Sequoia China fund (via a side vehicle that also includes founders, friends and family). Such legacy investments will be retained, but no new ones will be made going forward.

The bottom line: Sequoia may have grown a bit too big for its branches.