Sequoia China Raises $480M for Its Seed Fund III

Sequoia China Seed Fund announced on February 28 that its Fund III had raised $480 million last year and has officially entered the investment period. This is the third US dollar fund raising completed in five years since 2018.  

Since its establishment, Sequoia China Seed Fund has cooperated with Sequoia China’s RMB Fund to focus on seed and angel round investments in dual currencies. After raising the latest $480 million, it now manages nearly 15 billion yuan ($2.16 billion), making it one of the largest funds in China.

Sequoia China Seed Fund pays attention to the early signals of technology and industry trends. In the past few years, it has focused on fields with technology, structural innovation and high growth attributes, such as new energy, EV, innovative medical technology, synthetic biology, financial technology, basic software, robotics, design and content platforms, efficiency tools and new consumption. Now, the firm has begun to pay attention to the AI-generated content (AIGC) field.

In the past five years, the Sequoia China Seed Fund has invested in many unicorns, including Agile Robots, product design collaboration platform Lanhu, mobile-based platform for payments Opay, open-source computer graphics infrastructure provider Taichi Graphics, therapeutics company METiS, biotech firm PhaBuilder, privacy solution provider Sudo and others.

In addition, Sequoia China announced that the second phase of its startup accelerator program YUÈ officially opened registration. YUÈ is positioned as “the first lesson for entrepreneurs” which helps improve the success rate of Chinese entrepreneurs who are at the early stages of starting their own business.

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Compared with first phase, the second phase will further focus on scientific and technological innovation. Besides classes, Sequoia China Seed Fund has arranged more personal visits, which will lead entrepreneurs into advanced manufacturing factories, technology research and development centers, laboratories, industrial parks, manufacturing bases, etc. Several renowned CEOs will join the program and conduct some of the courses. This year’s course has been expanded to eight modules, one of which is AIGC. As an organization that has invested in ChatGPT developer OpenAI, Sequoia China will bring inspiration to entrepreneurs who are interested in making their mark in the AIGC field.