Sequoia says no exits, no downside.
The Silicon Valley titan of enterprise marked up the worth of its 2020 Sequoia Capital U.S. Enterprise XVII fund by 24.6% in June, on the finish of a 12-month interval, in accordance with PitchBook, which ran evaluation on knowledge from the Regents of the College of California’s endowment.
Sequoia’s markup is notable as a result of the fund has but to have any exits. That is additionally a positive change for a 2020 fund classic, given the truth that funds from that yr aren’t predicted to carry out nicely for any VC after the frothy valuations of 2020 and 2021. The mismatch is probably going as a result of lofty AI valuations giving enterprise a way of restoration that hasn’t come to fruition fairly but for different sectors. Sequoia is an investor in buzzy AI firms together with: OpenAI, Glean and Harvey, amongst others.
Sequoia raised greater than $800 million for Fund XVII which closed in 2022.
