Sequoia shifts to independent partnerships, separate brands
Wednesday, June 07, 2023
(AVCJ by Tim Burroughs) – Sequoia Capital’s China and India-Southeast Asia VC operations will berenamed HongShan and Peak XV Partners, respectively, as they formally separate from the US entity and become independent partnerships.
Roelof Botha, who leads Sequoia globally, and Neil Shen and Shailendra Singh, who head up China and India-Southeast Asia, said in a note to LPs that it has become increasingly complexto run a decentralised global investment business. This is a consequence of the regional businesses not only getting larger but also becoming more diverse in terms of strategy and sector coverage.
“This has made using centralised back-office functions more of a hindrance than anadvantage. Additionally, as each entity’s portfolio has expanded to include companies that arebecoming global leaders, we’ve seen growing market confusion due to the shared Sequoiabrand as well as portfolio conflicts across entities,” they observed.
