Venture capitalist Neil Shen’s Sequoia Capital China is establishing a hedge-fund enterprise to leverage its report of selecting winners in Chinese language expertise.
In August the agency launched the U.S.-dollar-denominated Sequoia Capital Fairness Companions fund with preliminary capital of greater than $300 million from traders, in keeping with individuals accustomed to the matter and filings with the U.S. Securities and Change Fee. It plans to spend money on publicly traded shares globally, the individuals stated.
The launch places Sequoia China in more-direct competitors with Hillhouse Capital, one other high-profile Chinese language asset supervisor that has investments in non-public fairness, enterprise capital and listed shares world wide.
Veteran traders Mr. Shen co-founded Sequoia China in 2005, the identical yr Chinese language entrepreneur and investor Lei Zhang established Hillhouse. The 2 corporations have grown considerably and gained world prominence over the previous decade, because of massively profitable bets on Chinese language expertise startups.
Sequoia China is a part of Sequoia Capital, began in Menlo Park, Calif., in 1972. Whereas the worldwide investment agency is greatest identified for venture-capital investing, its Sequoia Capital International Equities fund dates to 2009 and manages over $four billion. It invests in public corporations throughout the expertise, media and telecommunications sectors, along with late-stage non-public corporations, in keeping with its web site.