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Perennially successful tech investor Sequoia Capital is once again setting its sights on Silicon Valley, having raised at least $1.3 billion for a new fund that will zero in on up-and-coming startups, according to a filing released today by the U.S. Securities and Exchange Commission.
Sequoia, a storied venture-capital firm that has invested in white-hot tech companies from AdMob to Apple, Cisco, Google, YouTube and a host of others, will call the new fund Sequoia Capital 2010.
It most recently poured $27.5 million into Square, the mobile payments startup founded by Twitter creator Jack Dorsey, on Jan. 10. That funding valued Square at $240 million overall.
The firm has said in the past that any new fund would focus primarily on early and growth stage companies located in the U.S. and China.
Thus far, Sequoia Capital 2010 has secured more than $1.35 billion in capital commitments since last March, Fortune reported today.
The University of Michigan Regents, which invests with Sequoia, described the VCs’ plans for the fund in a memo released last July:
“In the U.S., venture investments will be primarily in new technology companies formed in the western part of the country, particularly California’s Silicon Valley. The China investments will focus on companies positioned to benefit from China’s growing economy and increasing number of consumers and are expected to be in the financial services, consumer services, technology, and healthcare, and internet sectors.”
A Sequoia representative did not immediately respond to queries about the new fund.
It’s not clear if Sequoia will ultimately take in more than the $1.35 billion sum raised so far — but given recent figures on how venture capital is roaring back in Silicon Valley, not to mention Sequoia’s track record and reputation, it seems like it could easily pull in more.
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