News - Sequoia Capital cuts crypto investments by 65 percent

By Ted Maas

Sequoia Capital cuts crypto investments by 65 percent

Investing

Sequoia Capital is reducing the volume of its own crypto fund by 65 percent. The company plans to focus more on start-ups in the future.

According to a report in the Wall Street Journal, the VC giant is lowering the volume of its fund from US$585 million to US$200 million. The company informed investors of the decision back in March. Sequoia wants to be better able to respond to changing market conditions.

The cuts are also accompanied by a change in strategy. Instead of large, established companies, the fund now wants to focus more on early-stage start-ups.

Observers also see a reduction in capital as a motive for the reduction in investment volume. This would allow more investors to participate in Sequoia's fund offerings. The company is considered one of the largest VCs in the tech and crypto scene. Last year, the investment firm recorded one of the biggest failures in its history with the demise of FTX. In the process, Sequoia lost US$214 million.

Download the Anycoin App

Finally, a crypto app for everyone!

Check it out