Sequoia China raises $9 bn as investors flock to big funds

The firm raised the money from pensions, endowment funds and family offices from the US, Europe, the Middle East and Southeast Asia

Sequoia China, led by investment guru Neil Shen, has raised about $9 billion for investments in technology and healthcare, according to people familiar with the matter, overcoming the fundraising challenges that have beset the venture capital sector.

The firm, which operates largely separate from Silicon Valley-based Sequoia Capital, raised the money from pensions, endowment funds and family offices from the US, Europe, the Middle East and Southeast Asia, the people said, asking not to be named because the matter is private.

Sequoia China is long-term positive on the country’s growth despite concerns around increased regulation and an economic slowdown, and plans to