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Sequoia Capital Invests over $500M to Take part in Crypto Governance

Written by James Smith

California-based enterprise capital agency, Sequoia Capital, is doubling down on its bullish stance within the digital forex ecosystem with the launch of a $500 to $600 million funding dubbed the Sequoia Capital Fund. - 2022-02-18T150657.853.jpg

As detailed by the corporate, the institution of the fund is aimed toward changing into an lively participant in the important thing decentralized and open-source protocols that it backs.

In keeping with the corporate, its main companions within the crypto ecosystem have usually requested it to do extra than simply put money into the house and evolve into both a liquidity supplier of any of such associated actions that sustains a blockchain-backed challenge. With the brand new funds, Sequoia Capital will make investments “totally on liquid tokens and digital property.”

“Our aim with this fund is to take part extra actively in protocols, higher assist token-only initiatives, and study by doing ourselves,” the Enterprise Capital mentioned in an announcement. “We stay dedicated to working collaboratively with the crypto neighborhood, together with offering ongoing assist for open-source analysis. We will even proceed to associate with crypto groups throughout each stage of their journey out of our seed, enterprise, progress, and enlargement funds.”

According to a Bloomberg report, citing Shaun Maguire, a associate at Sequoia Capital, crypto is believed to be a technology that may type a “megatrend over the subsequent 20 years” moreover calling it “the way forward for cash.” 

Based in 1972 by Donald T Valentine, Sequoia Capital has at all times put its cash the place its mouth is and the agency has various sizable stakes in digital currency-based companies. As reported by Blockchain.Information, Sequoia Capital led the latest $450 million Polygon Community non-public token sale earlier this month. 

The corporate can also be a significant investor in Reddit, in addition to FTX Derivatives Change. The brand new Fund and the corporate’s plans are billed to remodel Sequoia from only a passive associate to a significant offshoot that helps preserve protocols working.

Picture supply: Blockchain.information

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James Smith

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