Sequoia Capital’s Latest $975 Million Raise Is All About International

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It looks like Sequoia Capital finally closed in on that cash we’ve been hearing about.

We’ve heard that the firm has raised three separate funds for U.S., China and Israeli investments. Our sources say that Sequoia has already raised $450 million for a U.S. venture fund, $325 million for a China venture fund, and $200 million for a fund for Israel-based venture investments. While the amount has already been raised, the funds will be closed in the next month, we hear. This is in line with a Bloomberg report released earlier this week.

As Fortune’s Dan Primack wrote in May, Sequoia was looking to raise as much as $1 billion for a number of funds. Sequoia previously raised more than $1.3 billion for Sequoia Capital 2010, noted Primack. This fund makes investments in both U.S. and China.

The amount the firm plans to invest in China and Israel isn’t surprising considering Sequoia’s plans of building out an international venture capital powerhouse. Sequoia is also reportedly looking to expand to Brazil.

We’ve contacted Sequoia, who declined to comment for this story.