Sequoia Capital filed a form with the SEC today, indicating a $700 million raise for a fund titled Sequoia Capital Global Growth Fund, L.P. While Sequoia declined to comment on the filing, our sources tell us that this fund is actually separate from the international funds that Sequoia raised money for earlier this year.
According to what we’ve heard, the Global Growth Fund was created in the past year to allow the firm to partner with larger companies on a global basis on investments. The $700 million noted in the filing is new money raised for the fund over the past months.
It’s unclear what types of companies Sequoia would be partnering with on these investments, but this sounds like it will be an international venture. These could be larger funding opportunities if they are in partnership with multinational companies.
Sequoia has made it clear that it will be doubling down on international. In August, we reported that Sequoia raised three separate funds for U.S., China and Israeli investments, including $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. Brazil is also an area where Sequoia has an interest.
Dan Primack of Fortune wrote in May that he heard a fourth fund could be offered, so perhaps this is part of that report. If and when we hear more details, we’ll update this post.