VC firm Sequoia is splitting into three fully distinct firms no later than March 2024: the United States and Europe will retain the Sequoia name while its China and India business to adopt new brands
The Chinese firm will be named Hongshan, the transliteration of the Chinese word for sequoia. Neil Shen will remain the head of the Chinese firm.
The India side will adopt the new name Peak XV Partners, led by managing partner Shailendra Singh.
Sequoia said it had become “increasingly complex” to run a decentralized global investment business and the centralized back-office had become more of a hindrance than a help.
Sequoia is known for its early investment in tech companies such as Airbnb, Zoom and Whatsapp. In 2005, Neil Shen and Sequoia established the company's VC business in China and invested in big names such as ByteDance and Shein.
