Sequoia Crypto Fund launched

Silicon Valley venture capital firm Sequoia Capital has launched a new fund enabling exclusive investment in cryptocurrency.

Sequoia Capital has been running for more than 50 years and has already made significant investments with crypto.

In the announcement, Sequoia Capital said The Sequoia Crypto Fund will be used on digital assets and liquid tokens, “participating in governance and trading through their platforms”.

According to a statement on the firms’ website, there has been up to $600m set aside to invest in the tokens.

It said: “Sequoia Crypto Fund complements our broader commitment to crypto. Our goal with this fund is to participate more actively in protocols, better support token-only projects, and learn by doing ourselves.

“We remain committed to working collaboratively with the crypto community, including providing ongoing support for open-source research.”

The statement also revealed that its crypto network had asked the firm to take a “more active role in managing” its tokens and when staking them.

“​​Our goal with this fund is to participate more actively in protocols, better support token-only projects, and learn by doing ourselves. We remain committed to working collaboratively with the crypto community, including providing ongoing support for open-source research”, it said.

Sequoia Capital has partnered with some of crypto’s largest names including Twitter co-founder and bitcoin enthusiast Jack Dorsey, CEO of FTX exchange Sam Bankman-Fried, StarkWare’s Eli Ben Sasson, Fireblock CEO Michael Shaulov, Iron Fish founder and CEO Elena Nadolinski, Parallel founder Yubo Ruan, and founder of Strips, Ming Wu.

With such a vast team of support behind it, there are high hopes for the crypto fund and its performance.

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Updated: 02/18/2022 — 14:00