Sequoia China is reportedly seeking to raise $1.2 billion for its first U.S. dollar fund since going independent.

According to informed sources, Sequoia Capital China has engaged in preliminary discussions with investors regarding several funds, including its first U.S. dollar fund since going solo. The sources stated that the investment firm is contemplating raising at least $1.2 billion for an early-stage investment fund to support companies in the AI, healthcare, and consumer sectors. Sequoia Capital China has been led by Shen Nanpeng since 2005. They also mentioned that Sequoia Capital China is considering establishing a growth fund, but the specific timing and scale have yet to be determined. One person added that the company is additionally considering a renminbi-denominated fund. This fundraising will test the appeal of this longstanding investment firm focused on China. The three entities originally under the Sequoia brand umbrella have essentially become independent: one focused on the U.S. and Europe, one focused on China, and the third concentrated on India and Southeast Asia. After the split, the China branch ultimately adopted HSG as its English name and has invested in emerging AI companies such as Yushu Technology, Minimax, and The Dark Side of the Moon.