Sequoia logo is seen on smartphone in this illustration taken, June 13, 2022. Illustration picture taken June 13, 2022.
NEW YORK, July 31 - Sequoia Capital is pruning once-hot funds. The $85 billion venture firm downsized the commitments it expects its investors to make to vehicles targeting cryptocurrency and its own peers, the Wall Street Journal. With those investors, known as limited partners, now less pressed to flee private markets, it’s a smart time for Sequoia to help them shift into more promising opportunities.
As last year's downturn tanked their public investments, LPs found themselves relatively overinvested in still-highly-valued private markets, forcing them to pull back from the likes of venture funds. As public markets recover – the S&P 500 Index