Sequoia raises $7 billion for its biggest-ever late-stage fund

Sequoia Capital has closed approximately $7 billion for its expansion strategy fund, nearly doubling its 2022 comparable vehicle of $3.4 billion. This is the firm's largest-ever late-stage fund and the first raised under new co-stewards Alfred Lin and Pat Grady, who succeeded Roelof Botha in November 2025. The raise reflects the capital-intensive demands of frontier AI companies like OpenAI and Anthropic, both of which Sequoia has backed. The fund covers US and European investments only, following Sequoia's 2023-2024 restructuring that separated its India, Southeast Asia, and China operations.