Sequoia says there is no way out and no problem.
The Silicon Valley venture giant increased the value of its 2020 Sequoia Capital US Venture XVII fund by 24.6% in 12 months in June, according to PitchBook, which analyzed data from the Regents of the University. California Endowment.
Sequoia’s markup is notable because the fund has yet to find an exit. This is also a favorable change for the 2020 fund vintage, considering that the fund in that year is not expected to perform well for any VC after the bubble valuations of 2020 and 2021. This discrepancy is likely due to the high AI ratings they provide to ventures. There is a sense of recovery that has yet to come to fruition in other sectors. Sequoia is investing in active AI companies, including OpenAI, Glean, and Harvey.
Sequoia raised more than $800 million for Fund XVII, which closed in 2022.
