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Sequoia says there are no exits, no problem.
The Silicon Valley giant raised the value of its 2020 Sequoia Capital US Venture XVII fund by 24.6% in June, at the end of a 12-month period, according to Pitchbookwho conducted an analysis on data from the regents of the University of California Endowment.
The Sequoia coding is notable because the box doesn’t have any exits yet. This is also a positive change for the 2020 fund, given the fact that funds from that year are not expected to perform well for any VC after the shallow valuations of 2020 and 2021. The mismatch is likely due to AI’s lofty ratings giving the project a sense of recovery that has yet to come to fruition relative to other sectors. Sequoia is an investor in buzzy AI companies including: OpenAI, Glean, Harvey, and others.
Sequoia raised more than $800 million for its 17th fund, which closed in 2022.
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