Sequoia Capital Reduces by Half its Crypto Funds
One of the largest venture capitals in the world, Sequoia Capital, had started in February 2022, two large funds, aiming in the crypto ecosystem.
The first fund was the crypto fund, at $585 million while the second fund, an ecosystem fund for startup funding, at $450 million.
After the sudden drop of crypto sector’s momentum and the returns’ slashes from those kind of investments, there were severe consequences in those funds.
More specifically, crypto fund was landed at $200 million (down around 65 %) while the ecosystem fund was landed at $225 million (down 50 %).
Those funds will be focused on building new ventures that will be in the crypto sector and their goal will be to grow and get funded from other funds of the venture capital.
The money have started to reduce for ambitious enterpreneurs….
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