"Our teams in India and China have built spectacular businesses," Sequoia head Roelof Botha said at a recent Fortune conference. "But the decision to split from India and China units is among crucible moments - one or two decisions a year that have enormous outcomes for the company. [It's] not a decision we can undo two years later and go, 'Oops, sorry, we should go back to being one firm.'"
Sequoia is in advanced talks to back Vance, a Bengaluru-based cross-border payments startup. If the deal materializes, it would mark their first investment since separating from its former units.
HongShan, the former China unit of Sequoia, is looking to pen deals in Europe and North Asia as it navigates challenges in deploying its $9 billion corpus, reflecting a strategy shift among Sequoia’s former regional arms.
Peak XV Partners is expanding its footprint by establishing a team in the U.S. to invest in U.S.-based startups, further indicating the geographical diversification among Sequoia's split entities.
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