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Sequoia Capital Plans to Invest More in Crypto

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Tue, 10/26/2021 - 17:53
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Alex Dovbnya
One of the oldest venture capital companies plans to invest more in cryptocurrencies
Sequoia Capital Plans to Invest More in Crypto
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Venture capital giant Sequoia Capital has announced that it intends to register as an investment advisor with the U.S. Securities and Exchange Commission (SEC) in order to invest more in alternative assets of the likes of cryptocurrencies.

According to a statement made by Sequoia partner Roelof Botha, the company is working on forming one fund that will be able to hold investments without “artificial time horizons.” Botha described the traditional VC model as “outdated.”            

In such a way, Sequoia Capital will be able to participate on the boards of private companies after they go public.

Last week, The Information reported that roughly 25% of the company’s recent investments were related to the cryptocurrency industry.

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Founded back in 1972, Sequoia Capital is one of the oldest venture capital firms, which has famously backed Paypal, Google, Yahoo and Instagram.

Rival investment firm Andreessen Horowitz has benefited from its early bets on the cryptocurrency industry, recently raising $2.2 billion for its third-crypto fund.

a16z became a registered financial advisor in early 2019, and Sequoia has now followed its footsteps.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.