红杉资本投资了哪些区块链项目呢,红杉资本投资了哪些区块链项目公司

红杉资本是一家专注于投资创新技术领域的全球领先的风险投资机构，在区块链技术领域也有着丰富的投资经验。下面介绍红杉资本投资的三个典型的区块链项目：

1. Ripple：

Ripple是一家以区块链技术为基础的全球支付网络，它致力于改善全球金融体系。Ripple的技术可以实现跨境支付，支持多种货币，提供更低的转账费用，更快的转账速度，以及更高的安全性。红杉资本在2015年投资了Ripple，支持其发展，帮助Ripple成为全球领先的跨境支付网络。

2. Chain：

Chain是一家以区块链技术为基础的金融服务公司，致力于改善金融服务的安全性、可用性和可扩展性。Chain提供开发者和金融机构一系列的API和工具，使其可以在区块链上实现跨境支付、实时结算、资产管理等功能。红杉资本在2015年投资了Chain，支持其发展，帮助Chain成为全球领先的区块链金融服务公司。

3. Blockstream：

Blockstream是一家以区块链技术为基础的软件公司，致力于改善区块链技术的安全性、可用性和可扩展性。Blockstream提供了一系列的开发工具和解决方案，可以帮助企业快速构建和部署区块链应用。红杉资本在2015年投资了Blockstream，支持其发展，帮助Blockstream成为全球领先的区块链软件公司。

红杉资本投资的这三个区块链项目，都是全球领先的区块链技术公司，它们的发展也将为区块链技术的发展和应用提供强有力的支撑。

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『一』 Who is paying attention to the good companies in this field of IPFS?

The best in the IPFS field should be the Interstellar Alliance Company, and the price is very affordable. At present, there are too many companies selling IPFS mining machines in China, 300-500 or more. Currently there are only a few companies in the first tier. The Star Alliance is among them.

PFSUnion Interstellar Alliance (referred to as Interstellar Alliance) is headquartered in the magical city of Shanghai. The team is composed of key members from Internet giants such as Microsoft, AMD, Alibaba, Tencent, SAP, Huawei, Shanda, Inventec, etc. It has a mature and complete industrial supply chain, as well as multiple branches and partners at home and abroad.

Since its establishment, the Interstellar Alliance has been backed by technology and focused on the research and development of blockchain technology, focusing on building a global IPFS ecosystem around IPFS-Filecoin, providing mining machines, mines, hosting, data, applications, and knowledge. , as well as marketing and other services.

Interstellar Alliance has four major advantages over other companies:

1. Low price and high cost performance.

2. The highest marketing commission in the same industry.

3. Interstellar Alliance ranks first in block production rate and computing power growth rate.

4. Long-term strategic planning, with five major development strategies: mining machines, mining pools, mines, applications, and chips.

(1) Which blockchain projects has Sequoia Capital invested in? Further reading:

To evaluate the quality of a service provider, you should start from these points From this perspective:

1. Look at whether the company’s genetic founder team is born in R&D or marketing. If they are all R&D teams, and each person has more than 10 years of experience, both blockchain development experience and server operation and maintenance experience, the overall team will exceed 50 people.

2. As the official launch of the mainnet approaches, the layout has begun. First of all, you must choose a technology-based mining machine hosting company to cooperate with, because once the mainnet is online, the strength of each technical team will determine whether you can grab more orders faster and whether you can mine more than others. Coin, whether it is cloud computing power or physical hosting, the hard disks that are currently doing relatively well are almost all from Seagate. Overall, ipfs technology is revolutionary.

『二』A glance at the investment institutions of IPFS

Since Protocol Labs launched the IPFS-Interstellar File System, its attention in the chain and currency circles is like a rocket. Take off. But this mysterious, low-key team can sometimes be confusing. Detailed information about the technical team is difficult to find online. But it does not affect the popularity of the project. Many well-known investment institutions have already done a lot of research and investment on this project. Now let’s take a look at the investors of the IPFS project?

01.YCombinator

Founded in 2005, Y Combinator is a well-known entrepreneurial incubator in the United States. Y Combinator supports start-ups and provides them with entrepreneurial guidance. In 2012, Forbes named YC the most valuable incubator. Y Combinator President Sam Alter once gave a set of data: "There are 12,000 incubators in the world, 8,000 of which are in China, but of the 16 billion US dollars created by the companies incubated by these 12,000 incubators, 15 billion US dollars came from A company incubated by Y Combinator." In 2015, IPFS founded by Juan Benet received a huge investment in the Y Combinator incubation competition, and at the same time established Protocol labs.

2.Winklevosscapital Winklevoss Brothers Fund

Winklevoss Brothers Fund is an investment institution founded by the Winklevoss brothers. It is also one of the most well-known investment institutions in the currency circle, because the Winklevoss Brothers Fund once purchased 1% of Bitcoin for US$11 million, with a maximum return of US$1 billion. Known as "the person who knows how to speculate in coins". The Winklevoss brothers are also the founders of Facebook.

03. Sequoia Capital

Sequoia Capital was established in Silicon Valley in the United States in 1972. As the first institutional investor, Sequoia has invested in many innovative companies such as Apple, Google, Cisco, Oracle, Yahoo, and LinkedIn. Sequoia Capital has localized funds in three countries: the United States, China, and India. Sequoia Capital China is the most well-known investment company in China's Internet. Sequoia Capital is behind nearly 50 domestic Internet giants such as Alibaba, Ant Financial, JD.com, Meituan, Didi, and Mobike.

04.DigitalCurrencyGroup DCG Group

IDCG (InternationalDigital Currency Group) is a holding company dedicated to the entire ecosystem and diversified investment portfolio in the blockchain field.Provide professional information services to investors globally, develop practical applications of blockchain technology, and provide diversified cryptocurrency management services.

IDCG is jointly created by Wall Street investment banking elites and cryptocurrency trading platform founders, independent directors, a joint blockchain technology pioneer team and well-known figures in the financial and technology fields. The core founding team of IDCG has a significant international financial background. Most of them come from the investment banking department of Deutsche Bank, UBS, the Australian Securities Exchange (ASX), and the Accenture blockchain project team, with a total of more than 50 years of Wall Street financial experience. . Core employees come from the product technology departments of well-known corporate organizations such as NASA, McKinsey, GOOGLE, Goldman Sachs, Tencent, IBM, Huawei, and KPMG.

05.stanforniversityStanford University

Stanford University is located in Palo Alto, in the southern part of the San Francisco Bay Area, California, USA. It is close to the world-famous high-tech Park Silicon Valley is a world-renowned private research university. According to statistics from relevant institutions, as of October 2018, a total of 83 Stanford alumni, professors or researchers have won the Nobel Prize, ranking seventh in the world; 27 have won the Turing Award (the highest award in the computer industry), ranking Ranked first in the world; 8 people have won the Fields Medal (the highest award in mathematics), ranking eighth in the world. In 2017-18, Stanford University ranked second in the world in the Academic Ranking of World Universities (ARWU) and QS World University Rankings, and ranked third in the world in the Times Higher Education World University Rankings and USNews World University Rankings; in 2017, Ranked third in the world in terms of reputation among universities ranked by Times Higher Education. Juan Benet, the founder of IPFS, studied at Stanford University.

06.AndreessenHorowitz Andreessen Horowitz Fund

AndreessenHorowitz is an American private venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz . From 2006 to the present, Andreessen and Horowitz have devoted themselves to investing in technology companies. They have jointly invested in 90 Internet companies including Skype, Zynga, Digg, Foursquare, Airbnb, Twitter, Facebook, etc.

07.FundersClub

is an emerging online equity crowdfunding organization dedicated to selecting startups with the most potential. All legal documents and funding are conducted online, with absolute openness and transparency. Only successful startups can get rewards. He is a powerful rising star in the investment community.

08. UnionSquareVentures Union Square Ventures

New York-based Union Square Ventures manages $1 billion in assets. With the popularity of digital currencies, they have put their investment focus on the blockchain and cryptocurrency industries, planning to increase wealth through investment. An executive at Union Square Ventures has said that blockchain will be worth trillions of dollars. Albert Wenger, managing partner of USV, also said in an interview: "The company chooses to enter the blockchain field at the early stage of development. If the project is invested in the right way, it can make a lot of money. This idea is not crazy." Judging from the way they chose to "make money" at the beginning of the establishment of Protocol Labs, IPFS is a good project, and it is also a good project to make a lot of money.

09. Other investors

In addition to the above-mentioned well-known investment institutions. IPFS has also attracted well-known independent investors.

Founder of AngelList, an American equity crowdfunding platform: Naval Ravikant

Founder of Haystack Fund: Semil Shah

Founder & CEO of Gyft.com: Vinodan Lingham< br />
Former Goldman Sachs trader, co-founder of Coinbase: Fred Ehrsam

Co-founder of Skype, founder of British restaurant brand Chilango: Jaan Tallinn

Co-founder & CEO of Figma, legendary mathematical genius in Silicon Valley: Dylan Field

It turns out that the investors of IPFS are all big guys in the investment circle, and Xing Lan feels more at ease!

Released in the same article as the official account: Xinglan Blockchain.

『三』 Is there a war to grab people in blockchain?

Blockchain has become a hot trend. Although focusing only on the trend will often lose a forest, any change in the trendChanges will generate new dividends. At this time, the word "change" spread rapidly: investment institutions, hedge funds, listed companies, academia, top technical personnel, and ordinary job seekers were all involved. A large number of newly established investment institutions have poured into this vigorous investment feast, and competition for talents has become a key to the current layout of the blockchain. So, who loses and wins in this game?

Funds rush to enter: tens of millions of yuan in financing is no longer surprising

How fast does capital rush enter the blockchain market? ?

“The most popular programming languages ​​​​for blockchain development are C++ and Go, and talents who are proficient in cryptography and distributed computing also have innate advantages for blockchain development. "Ding Song said, "I have never studied blockchain, but I have studied and studied in this area for a long time." Regarding the newly entered blockchain training institution, Ding Song revealed that the salary offered by the company is also very "special." : In addition to a small fixed salary, there is a floating bonus of 0.1 to 0.35 Bitcoins every month. When recruiting, "having speculated in coins" has become a bonus.

“Using Bitcoin as a salary, to put it bluntly, even the salary is full of uncertainty, just like this industry. I feel that I am still young and can take a gamble, but I don’t see much of the future. Clear." In Ding Song's view, the popularity of a new thing will naturally be mixed with irrational bubbles, but what can survive in the end must be something truly valuable. However, what is the chance of winning if you invest blindly?

『四』 Sequoia Capital has invested heavily in Web3

Venture capital funds are constantly pouring into "Web3".

On March 9, Jiemian News learned that EthSign, a Web3 infrastructure company and electronic agreement signing platform, completed a US$12 million seed round of financing, led by Sequoia Capital India and Mirana Ventures. , Amber Group, Circle Ventures, NGC Ventures, HashKey Group and Matrixport participated in the investment.

It is worth noting that according to The Block, a spokesperson of Sequoia Capital India said that this is the first of the three units of Sequoia Capital (Sequoia Capital, Sequoia Capital India and Sequoia Capital China) fully participated in a round of financing.

And this is already the second Web3 investment that Sequoia Capital has participated in within 3 days.

On March 7, Sequoia Capital participated in a $32 million financing round for Web 3 application extension and privacy system Espresso Systems. This round of financing included Greylock Partners and Electric Capital led the investment, with participation from Blockchain Capital, Slow Ventures and others.

In order not to miss the trend of Web3 and cryptocurrency, Sequoia Capital has specially prepared an investment fund of approximately US$500 million.

On February 18, Sequoia Capital announced the launch of an investment fund focusing on cryptocurrency, with a capital size of between US$500 million and US$600 million. This crypto fund will mainly Invest in crypto projects, including tokens that have been listed on crypto exchanges and tokens that have not yet been listed. The investment scale of a single project is between 100,000 and 50 million US dollars. Sequoia also plans to participate in crypto finance.

"Web3", which has attracted heavy investment from the most well-known international venture capital institutions such as Sequoia Capital and A16z, is actually a new trend that is gradually heating up, but it is not known to the public.

"Web3" is a relative concept, and in a popular sense it can be understood as the abbreviation of the new generation of Internet.

Specifically, "Web3.0" is a derivative of the "World Wide Web", the underlying protocol of the current Internet. Within this concept, the Internet has experienced the Web1.0 era and is currently in the Web2.0 era. Web3.0 is people’s expectation for the next generation of the Internet. It means that machines can understand any information (that is, the Semantic Web). Websites can provide intelligent selection and better information based on information (artificial intelligence), the Internet is everywhere (Internet of Things), and more importantly, the ownership of data on the Internet will be decentralized.

This is a very broad concept and one that is constantly evolving. In recent years, with the development of blockchain technology, people have discovered that blockchain technology and the "Web3" concept are perfectly combined. , start laying it out and trying it out.

This has caused controversy on the Internet, that is, whether "Web3" is a gimmick, because judging from its vision, if it wants to be realized, it will subvert the existing monopoly structure of Internet giants. Including Apple, Google, etc., all belong to the current "Web2" scenario, and the difficulty of innovating the existing pattern can be imagined.

However, funds continue to pour into the field. According to a research report by Coinbase, the funds invested in cryptocurrency will reach as high as 30 billion US dollars in 2021, and the amount of financing exceeds the total of previous years. Coinbase's investment department has completed about 150 investment plans, of which the Web field accounts for 20%.

In recent years, A16z can be seen in almost all large-scale financings in the Web3 field. In addition to investment, they are also actively participating in the popularization of Web3 concepts. Partners personally preach on Web3 concepts. So much so that Jack Dorsey quipped "Web3" is between the letters a to z.

Sequoia Capital, which is also the world's top venture capital, is half a beat behind A16z in this field, so in the second half of 2021, in LP Driven by this, the transformation started and the traditional 10-year cycle system in the VC industry was officially abandoned.

In addition, consistent with A16z, Sequoia also applied to the U.S. Securities and Exchange Commission to transform into a registered investment adviser (RIA). This gives Sequoia more investment flexibility outside of venture capital restrictions, allowing it to invest more funds in cryptocurrencies, commodities, public and private stocks.

Entering 2022, Sequoia has launched a large wave of intensive investments in the fields of crypto-finance and Web3, hoping to take the lead in the new generation of Internet concepts.

『五』 Which companies has Sequoia Capital invested in?

Sequoia has invested in hundreds of companies. Here are some examples:
1. Examples of companies invested in 2017 include: Lechebang received 300 million yuan in Series B financing, and Yunzhihui received $26 million in Series C financing. Round of financing, Hubao Technology received US$100 million in Series D financing, Yitu Technology received 380 million yuan in Series C financing, Molbase completed hundreds of millions of yuan in Series D financing, Xiaodian Technology received 350 million yuan in Series B financing, and Toutiao received 1 billion U.S. dollars in Series D financing, Shence Data received tens of millions of dollars in Series B investment, Avenue Financial Services received 200 million yuan in Series B financing, Qilekang received Series C financing, and Infer Technology received 50 million in Series A financing. Kuaikan Comics is completed 250 million yuan in Series C financing, Xinzhiyuan received tens of millions of yuan in Pre-A round financing, and Mobike received US$200 million in Series D financing.
2. Examples of companies invested in 2016 include: Burning Rock Medical Obtained 300 million yuan in Series B financing, Laiye received tens of millions of yuan in Series A financing, Wisdom Ya completed Series C financing, Mobike received US$100 million in Series C financing, Meike Technology received millions of angel investments, Guazi Second-hand Che completed over 250 million US dollars in Series A financing, Zuoyebang received 60 million US dollars in Series B financing, Tianji Data received 10 million yuan in angel round financing, Liewang completed 200 million yuan in Series C financing, and Daring completed 300 million yuan in Series C financing. Mininglamp Data completed a Series B financing of 200 million yuan, VIPKID received a Series C investment of 100 million yuan, Soford Sports received tens of millions of yuan in Series B+ financing, and Ronglian Cloud Communications received a Series C financing of 70 million yuan, with a share of 25 million yuan. USD Series A investment, Tezan received tens of millions of USD in Series A investment, Shence Data completed USD 4 million in Series A financing, Jinyou.com completed USD 100 million in Series B financing, Molbase received tens of millions of USD in Series C investment, Douyu TV completed US$100 million in Series B financing, Mobile Loan received US$35 million in Series B investment, New American University received US$3.3 billion in Series E financing, Meituan-Dianping completed US$3 billion in financing, and "Home Diandian" received US$10 million in Series A financing Investment, JD Finance received 6.65 billion yuan in Series A investment, Yuniao Delivery completed US$100 million in Series C financing, and "Xinrenxinshi" completed 5,300RMB 10,000 in Series A financing, and Ping++ completed RMB 10 million in Series B financing.
3. Examples of companies invested in 2015 include: Dada Distribution completed US$300 million in Series D financing, Avenue Financial Services received tens of millions in Series A investment, Yunzhihui received US$12.3 million in Series B+ investment, and Xiaozhan Education Completed US$84 million in Series C financing, "Logbook" received 60 million yuan in Series A investment, Miaopai Video received US$200 million in Series D financing, "Zhenrongbao" received 100 million yuan in Series B investment, and VIPKID received nearly US$20 million Series B investment, Rong360 completed Series D financing of 1 billion yuan, Aixianfeng completed Series C financing of US$70 million, Weilai Automobile received Series B financing of US$500 million, Fanben completed Series C financing of US$15 million, and LOHO Glasses completed 2000 US$10,000 in Series B financing, Butter Camera received US$2.8 million in Series A financing, Zuoyebang received Series A investment, Ele.me received US$630 million in Series F financing, Yunmanman received hundreds of millions of yuan in Series C financing, and DCM and others have invested again. Worry English raised US$20 million, Zuji completed US$10 million in Series A financing, Huanxin Instant Messenger received US$12.5 million in Series B investment, "Tang Dynasty Security Cruise" received angel round investment, Matrix Partners and others invested another 89.05 million yuan in Beisen Cloud , "Gengmei" completed tens of millions of US dollars in Series B financing, Lingyun Intelligent received US$10 million in Series A financing, Almond Doctor received 200 million yuan in Series B investment, Yuniao Delivery completed tens of millions of US dollars in Series B financing, and Horizon Robot received several One million U.S. dollars in angel round investment, Golden Axe received 50 million U.S. dollars in Series B investment, “Qing Tutor” completed 100 million U.S. dollars in Series C financing, “Haiwan.com” received tens of millions of U.S. dollars in Series B investment, and “Chain Farmer” completed 3,000 Ten thousand US dollars in Series B financing, Jinyou.com received 70 million yuan in Series A investment, “Liu Liu Mei” received nearly 150 million yuan in Series A investment, “Xiushi” received US$15 million in Series B investment, and Niudian Technology completed a US$50 million investment In Series A financing, Warburg Pincus and others invested in ZTO Express, Kangda Pre-diagnosis received nearly 10 million US dollars in Series A investment, Yunmanman received hundreds of millions in Series B financing, Ninebot received Series A financing, and Tiantian Yongche completed Series C financing. , Aixianfeng completed US$20 million in Series B financing, Paipaidai completed nearly US$100 million in Series C financing, Maike received US$4 million in Series A investment from Sequoia Capital, Beijing Yiduoke Information, and Medical Alliance received millions of US dollars in Series A investment. , Haocaitou Food received a RMB 200 million investment from Sequoia Capital, Cheyipai completed a US$110 million Series D financing, Netzhu Group received an investment of nearly US$60 million from Sequoia China and others, and Yimixian received a multi-million US dollar Series A investment. Tiantian Yongche completed a multi-million dollar Series B financing, Yuguo Doctor received tens of millions of yuan in Series A investment, Ele.me completed a US$350 million Series E financing, and Wolaidai completed a US$20 million Series A financing. "No. 1 Truck" "obtained millions of dollars in Series A financing, DJI Technology received tens of millions of dollars in Series B investment, Miya Baby received Series C financing, and Darling completed tens of millions of dollars in Series B financing.

『Lu』 Shen Nanpeng’s 153 Sequoia projects attracted 12.2 billion!

Shen Nanpeng’s Sequoia 153 ProjectsSuck 12.2 billion!

Shen Nanpeng, born in Haining, Zhejiang in 1967, holds a bachelor's degree from Shanghai Jiao Tong University and a master's degree from Yale University. He is the founding and executive partner of Sequoia Capital China Fund. He is also the founder of Ctrip and Homeinn hotel chain. He is currently the rotating chairman and director of the China Entrepreneurs Forum, chairman of the board of directors of the Yale China Center, president of the Tianjin Equity Investment Association, vice president of the Beijing Equity Investment Association, and executive vice president of the Shanghai Zhejiang Chamber of Commerce.

JD.com, Jumei Youpin launched its listing, Vipshop acquired LeFeng.com, and Dianping received strategic investment from Tencent. These dazzling capital operations all have Sequoia China behind them. In the wave of mergers and acquisitions and listings, Sequoia Capital made a lot of money. Overnight, almost the entire Chinese PE community was talking about Sequoia.

Sequoia Capital, founded in the United States, is known as the "King of Silicon Valley Venture Capital" and is famous for its Internet investments. In 2005, Sequoia Capital led by Shen Nanpeng entered China for the first time. For a long time, Shen Napeng focused more on traditional industries, and its reputation in China was far less than that of Sequoia's Silicon Valley headquarters. After 2010, which was the fifth year after entering China, Sequoia China began to deploy the Internet.

"There has been a lot of talk about Sequoia in the industry recently, but everyone has overly deified Sequoia China. As far as we know, Sequoia Capital basically casts a wide net in China. In fact, the success rate Far less than 1/4, what you see are all successful projects. In terms of Internet investment experience and investment income, there is still a big gap with Sequoia headquarters." An Alibaba PE person commented.

Since Shen Nanpeng led Sequoia Capital into China in 2005, what kind of answers has Shen Nanpeng delivered in the past ten years?

Casting a wide net for the 153 project, 21 companies are listed

According to statistics displayed on Sequoia China’s homepage, Financial Weekly reporters: Sequoia China’s main investment sectors are four sectors: consumer goods and modern services, technology and media, energy and environmental protection, health industry, and other.

According to Wind statistics, Sequoia has invested in a total of 153 companies in China, 21 of which have been listed, with an exit rate of about 13.7%. Such investment performance does not seem to be enough for people to worship. Financial Weekly contacted Sequoia China executives and public relations several times through various methods, but no specific response was received as of the time of publication.

Further statistics from Financial Weekly found that since entering China in 2005, Sequoia China Fund has invested a total of 186 times, involving 153 projects. Among them, Internet software and services accounted for 59 times, and other Internet-related projects. Investments reached 49 times, with a total of 108 investments in the Internet field, accounting for 58%. Among the 21 companies currently listed, 12 are Internet companies.

"Shen Nanpeng has invested in nearly a hundred companies in the domestic Internet field, and only a few of them have been successful so far. It is time to evaluate whether they are successful or not.Too early. ” said a PE person in Shanghai who specializes in TMT investment.

Shifting from traditional industries to the Internet

Among them, for a long time, Sequoia Capital’s investment in China, It is far from worthy of being called the "King of Silicon Valley Venture Capital" by Sequoia Headquarters.

Looking at the specific projects invested by Sequoia China in the past 10 years, 2010 can be regarded as the watershed. 2006 and 2007 The frequency of investment by Sequoia China increased significantly in 2017, to 27 and 30 times respectively, but Internet software and services only accounted for 4 times each. Most of the others were in traditional industry fields. The investment frequency dropped significantly in the next two years, with 16 segments times and 8 times, investment in Internet software and services was further reduced to a total of 4 times. At that time, Sequoia even began to set its sights on the real estate field and also got involved in the field of educational services. At this point, Sequoia China seemed to be running counter to the Sequoia headquarters.

After 2010, the proportion of Internet investment has gradually expanded, and it seems to have begun to return to the right track of Sequoia. According to statistics compiled by reporters from Financial Weekly (Sina Weibo @财week, WeChat public platform money-week): In 2010 and 2011, Sequoia China suddenly increased its investment intensity, with investment frequencies of 33 and 37 times respectively, reaching historical peaks. Among them, the Internet software and service industry invested a total of 33 times, accounting for half of the investment in the two years. Even though Investments in other industries are also mostly based on the Internet, such as Internet retail, application software, home entertainment software, etc.

In 2012, affected by the macro environment, Sequoia China only invested in 8 projects, of which There are 6 Internet-related investments, with 19 investments made in 2013, and the Internet still ranks first.

This investment logic of returning from traditional industries to the Internet industry was explained by Shen Nanpeng as, "What we do What we are looking for is just looking for new demands brought about by China's GDP growth and the increase in personal consumption. Because the consumer goods market in the United States has matured decades ago, Sequoia can only focus on technological development. However, in China, in addition to technological changes, the development of the consumer market itself is also a huge opportunity. "

A Sequoia LP explained this as Sequoia taking an opportunistic route in China. After all, for foreign PE entering a new market, performance is king.

After 9 years in China, it attracted 12.2 billion yuan

According to public information, the Sequoia China team currently manages approximately US$2 billion in overseas funds and nearly 4 billion yuan in domestic funds for investment in China. of high-growth companies.

Since entering China in 2005, according to Wind data, Sequoia China has managed a total of 12 funds, of which the most was issued in 2010, reaching 4 funds, and there are still two funds The fundraising has not yet been completed, namely Zhuhai Sequoia Fund and Wuxi Sequoia Hengye Fund, with fundraising scales of 1 billion yuan and 798 million respectively.

Under normal circumstances, Sequoia China’s raised fundsThe amounts were all below RMB 1 billion. The largest one was Tianjin Sequoia Capital Fund, which raised RMB 2.05 billion. In the end, it raised over RMB 2.6 billion. Since September 2012, Sequoia China has not raised any new funds. So far, Sequoia China has managed a total of 7.838 billion funds.

So, how much money has Sequoia Capital made in China since it entered China nine years ago?

From the perspective of exit channels, Sequoia exits mainly through mergers and acquisitions and listings. Among Sequoia China's 153 investment projects, 21 have been listed in the United States, Hong Kong, Mainland and other places. Estimating the investment income of these 21 listed projects one by one found that Sequoia China’s total net investment income from these 21 listed projects alone was approximately RMB 12.2 billion.

However, ignoring the costs of various failed projects and labor costs during the period, Sequoia China’s 21 successfully listed projects in the past 9 years have returned 12.2 billion yuan, a rebate of only 1.93 billion U.S. dollars, and Sequoia headquarters recently With an investment of only US$60 million, he obtained a 19% stake in WhatsApp and made a profit of nearly US$3 billion. There is still a long way to go before the answer sheet delivered by the Sequoia China team is comparable to that of American Sequoia.

Sequoia China’s most profitable projects are Qihoo 360 and Vipshop, with net profits of US$498 million and US$237 million respectively.

Qihoo’s prospectus shows that Sequoia invested US$6 million in Qihoo 360 in 2006 at 50 cents per share. In November 2006, it injected US$1 million in the second round of investment at 66 cents per share. cents. Qihoo 360's share price reached US$34 on its first day of listing, with Sequoia holding 8.5% of the shares, valued at US$505 million. Based on this calculation, Sequoia’s $7 million investment achieved a 72-fold return in five years, earning a total profit of $498 million.

In 2010, Sequoia Capital began to invest in Vipshop, injecting US$35 million and net income of US$237 million. Although the book income was not as good as that of Qihoo 360, Sequoia Capital, as the leader behind the scenes, transformed Vipshop into , Lefeng.com, and Jumei Youpin are cleverly arranged to reap maximum profits.

Of course, Sequoia China has also invested in many failed companies. Sequoia Capital's first IPO project in China, Asia Media, got off to a bad start. Although it was successfully listed and gained 7 times the profit, it was forced to delist a year later due to a scandal involving misappropriation of funds. In addition, Mecoxlane's unsatisfactory performance has led to it becoming a junk stock in the capital market.