Sequoia Capital, one of Silicon Valley’s largest venture firms, has quietly built a $14bn fund to invest the wealth of its partners and start-up founders. Now the fund’s managers are offloading some of the high-flying tech companies that have made Sequoia wealthy.
Sequoia Heritage, started in 2010 with money from the venture firm’s partners, has ploughed the proceeds of the sales into new investments such as air filtration providers and opioid treatment clinics.
The trades, largely made in the past year-and-a-half, have nudged Heritage more into the spotlight after over a decade in the shadow of Sequoia’s venture capital funds, which made early investments in the likes of Apple, Google, Nvidia, Instagram and WhatsApp.