Sequoia expects to earn $202 million in salaries and fees from its fourth growth fund, according to the regulatory filing.
The firm’s partners did not respond to requests for comment, but the growth fund is likely the latest iteration of the growth investing fund series that the firm started in 1999, when it raised its $350 growth fund.
Most recently, Sequoia Capital raised a $861.5 million third U.S.-focused growth fund in May 2006, augmenting it with $175 million in January 2007 for a fund called Sequoia Capital Growth Fund III. In addition, late last month, the firm’s overseas affiliate, Sequoia Capital India, closed its second growth equity fund with $725 million in capital commitments.
Over the last two to three years, the Menlo Park, Calif.-based venture firm, long known for its early stage investments, has beefed up its growth stage investing group, as it has hired a handful of former
Since 2006, Sequoia Capital has added Mickey Arabelovic, Patrick Grady, Alexander Harrison and Scott Carter to its roster of growth fund investors. All are former Summit investors.
It is unclear what relationship the new growth fund and the partners working on it will have to Sequoia’s public market investing initiative. The firm hired several investors this year to make public market investments, including former
Though Sequoia Capital has invested in growth stage companies for nearly 10 years, growth investing has become increasingly popular among many VC firms. Early stage stalwart
Other early stage players have added growth investing to their mandate, such as
One such firm is
Some early stage venture firms are launching sector-specific growth stage funds. For example,
Also focused on the niche of growth stage cleantech-related businesses is