- Sequoia Capital has raised $US6 billion, the Financial Times reports.
- The firm has plans to raise $US2 billion more.
- The firm’s $US6 billion global-focused fund is the largest in Silicon Valley history.
For months, the prominent Silicon Valley-based venture firm Sequoia Capital has been quietly amassing a multibillion-dollar fortune to take on global competitors – primarily, the Japanese funding conglomerate SoftBank.
Now, the Financial Times reports that Sequoia has closed its first fundraising efforts for its new fund at $US6 billion and has plans to take in $US2 billion more in coming months.
The fund is the largest raise in Silicon Valley history and nearly four times the size of the firm’s previous fund.
It’s been widely reported that the money will be used to fund emerging companies with multimillion-dollar investments worldwide.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.