What cryptocurrency projects has venture capital king Sequoia recently invested in?
What cryptocurrency projects has Sequoia, a top venture capital firm, invested in recently?
Sequoia Capital has invested over $1.5 billion in the cryptocurrency industry and continues to make moves in the space despite the crypto bear market.
Author: Surf
Translation: Luffy, Foresight News
With $85 billion in assets under management, Sequoia Capital is one of the most well-known venture capital firms to date, having invested over $1.5 billion in the cryptocurrency industry across eight funds.
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Sequoia Capital focuses on incubating, seed, early stage, and growth stage investments in private companies. They have invested in a range of successful companies, including Apple, Google, Oracle, Blockbuster, Stripe, YouTube, Instagram, and Yahoo.
Sequoia recently announced the splitting of its regional branches (India and China), with the India branch renamed Peak XV Partners and the China branch renamed HongShan.
More details here:
Related reading: “The Splitting of Sequoia Capital: Geopolitics, Investment Conflicts, and Future Games”
Their cryptocurrency-related funds include:
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Sequoia Capital Crypto Fund: Liquidity Tokens and Digital Assets ($500-600 million)
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Sequoia Capital India: Venture and Growth Fund ($2 billion), SEA Web3 Fund ($850 million)
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Sequoia Capital China: Four funds focused on cryptocurrency and fintech ($9 billion)
Investment Focus:
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High-growth tech startups across multiple industries, including fintech, healthtech, and consumer tech.
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Cryptocurrencies and blockchain technology
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Diversified investments in companies led by special groups
Sequoia is particularly focused on blockchain services and infrastructure in the cryptocurrency industry. Below are their five most important recent investments in the crypto industry.
LayerZero
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Financing amount: $120 million
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Round: Series B financing
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Lead investor: a16z
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Other investors: Sequoia Capital, Christie’s, Samsung’s Next, OpenSea, Circle Ventures
LayerZero is a blockchain interoperability protocol that aims to be the foundational layer for data transmission and communication across different networks. LayerZero is used in various DApps such as Stargate, Aptos Bridge, and L2s such as Arbitrum and zkSync.
Taiko
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Financing amount: $22 million
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Round: Seed round
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Lead investor: Sequoia China, Generative Ventures
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Other investors: IOSG Ventures, GGV Capital, GSR Ventures, Blockingtricio Worthalter, Tim Beiko, Anthony Sassano
Taiko is a Type 1 ZK Rollup scaling solution that aims to achieve EVM equivalence and Ethereum equivalence, meaning its Rollup supports all existing Ethereum smart contracts, DApps, developer tools, and infrastructure.
TinyTap
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Financing amount: $8.5 million
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Investors: Sequoia China, Polygon, Liberty City Ventures, Kingsway Capital, Shima Capital
TinyTap is a platform for creating and selling educational mobile games for children, fostering a community of creators from around the world. Creators mint NFTs for their games, providing them with a new way to earn money through their creations. TinyTap offers a revenue-sharing model where creators can share in the income generated by the sale of their work on the platform.
Kaito
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Financing amount: $5.3 million
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Round: Seed round
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Lead investor: Dragonfly
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Other investors: Sequoia Capital, Jane Street, Mirana Ventures, Folius Ventures, Alpha Lab
Kaito is an AI-driven password research information database that aims to solve the problem of fragmented password information. Kaito is essentially a faster, more accurate, and deeper ChatGPT built specifically for encrypted information.
Caldera
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Funding amount: $9 million
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Lead investors: Sequoia Capital, Dragonfly
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Other investors: NEO Foundation, 1kx, Ethereal Ventures
Caldera is focused on building high-performance, customizable L2 blockchains called Caldera Chains. These custom Optimistic Rollups are fast, capable of processing hundreds of TPS in sub-second confirmation times.
Caldera Chains are highly customizable, with address whitelisting and sustainable revenue-generating capabilities, and are directly compatible with standard Ethereum smart contract code.
