Sequoia Capital’s China arm has pulled in $9 billion in recent capital to again the nation’s startups, The Data first reported.
The elevate got here at a time when world buyers are reevaluating dangers in China amid a COVID-hit economic system and an ongoing regulatory crackdown on the nation’s web upstarts.
The recent capital got here from pensions, endowment funds, and household places of work from the U.S., Europe, the Center East, and Southeast Asia, Bloomberg reported.
With the brand new monetary injection, the agency will proceed to guess on Chinese language startups targeted on deep tech, healthcare, and client tech.
We’ve got reached out to Sequoia Capital’s China for remark.
Extra to come back…