Documents filed with the SEC on Friday indicate that Sequoia Capital has raised $700 million for its global growth fund, an existing but not yet reported fund for international investments. The firm has been expanding internationally recently as the trend among VCs is to look overseas.
We have co-opted seed funds. You know, Y Combinator, that was completely our money. We have secret handshakes with a whole bunch of people. Very dangerous, because word gets out that so-and-so’s money is Sequoia’s money, that would not be a good thing.
This is complete warfare. You have to have the Green Berets in the back line, you have to take the frontal approach, you have to do seeds, you have to do investments. You have to be willing to risk things, otherwise somebody else will put you out of business.
[Instagram] sold completely prematurely. A billion dollars sounded great to the founders. Imagine what Instagram could be. It could be the next Facebook on the mobile phone.”
Silicon Valley’s smartest investor, Sequoia Capital, is telling its companies to tighten their belts. Super-angel Ron Conway is telling his portfolio of startups to batten down the hatches, cut jobs, and get ready for the worst. The credit crunch is hitting tech land like the proverbial Category 5 hurricane. Continue Reading