What happened to Sequoia crypto fund?

The $85 billion venture capital firm launched the Sequoia Crypto Fund in February 2022. Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players.

Why did Sequoia reduce its fund size?

By paring back the fund sizes, Sequoia is lowering the amount of committed capital required from investors. Photo: Josh Edelson/Bloomberg News Sequoia Capital pared back the size of two major venture funds, including its cryptocurrency fund, as part of a dramatic downsizing the storied venture firm is undertaking amid a broad startup downturn.

Is Sequoia Capital Investing in crypto?

Venture capital firm Sequoia Capital has announced that it is looking to raise around $500-600 million crypto fund to invest exclusively in the crypto space. Sequoia Capital is the latest financial giant to bet heavily on cryptocurrency.