Sequoia Capital is raising about $1 billion in several global funds, Fortune reported. The news organization states that the new funds might include a China-growth fund, one for growth equity and later stage companies, and another for traditional investments.
Investing in seed, early and growth-stage companies since 1972, Sequoia has made investments in Google, Yahoo, Apple, Instagram, Dropbox, PayPal, Oracle, and LinkedIn. Its last fund, the US Growth Equity Fund V, closed in 2011. The firm previously raised $1.3 billion in 2010. It typically invests $100,000 to $1 million in seed companies, $1 to 10 million in early stage startups, and $100 million in growth stage businesses.
The firm is currently raising money on up to four separate venture funds, each ranging from $250 to 400 million.
With interests in Israel and India, Sequoia recently extended into Brazil, with plans to soon open an office likely in São Paulo, according to the New York Times.
The news follows Partner Michael Moritz’s decision to step down from daily business management due to an undisclosed medical condition, though he remains with the firm as chairman.