Sequoia Capital All Set To Launch $ 600 Million Dollar Fund For Cryptocurrency

A recent announcement by Sequoia Capital regarding the creation of an independent fund worth $ 600 million exclusively for cryptocurrency assets has once again fired speculations regarding the future scope of cryptocurrencies in the financial world.

This is an unprecedented move by Sequoia Capital which has never created a separate fund for any specific industry in the past. Read out this article to know more about Sequoia Capital, cryptocurrency, and the creation of this $ 600 million fund for cryptocurrencies.

What Is This Fund By Sequoia Capital?

Sequoia Capital is a venture capital fund. As per Bloomberg, the VC firm had to undergo some major structural to be able to surpass several regulatory restrictions prohibiting the investment of more than 20% of a fund into crypto by Venture Capital firms.

Sequoia is a firm that has several limited partners. It is these partners who give their money to this Venture Capital firm for investments. As per Sequoia, these limited partners are in support of their decision to create a separate fund for cryptocurrency. Sequoia won’t be asking these partners for additional funds.

It would be creating the cryptocurrency fund out of the money already committed to Sequoia by these partners. This cryptocurrency fund is one of the three subs finds bring created under the arching Sequoia Capital Find.

What Does The Creation Of This Fund Entail For Investors?

Sequoia Capital is one of the most prominent Venture Capital firms in the world. The creation of an independent fund for cryptocurrency by Sequoia hints at a promising future for cryptocurrency. This announcement by Sequoia may bode well for investors, especially bullish investors.

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The fact that Sequoia has announced the creation of this fund in the backdrop of several regulatory actions being taken against cryptocurrencies by several governments across the world shows that Sequoia is confident of the ability of cryptocurrencies to sail smoothly through this regulatory storm.

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