2023-07-06
Sequoia Capital, an American venture capital firm
that invested in many cryptocurrency and blockchain companies such as FTX, Band
Protocol, Magic Eden, and Layer Zero.
Blockdata | Where Sequoia Capital Is Investing in Blockchain & Crypto
On June
22-23, 2023, Bloomberg hosted its annual US Technology Summit in San Francisco.
On June
22, Sequoia Capital partner Alfred Lin said in the summit that
“I
looked at the work we did 15 different ways,”
“We
probably would have made the investment again.”
“We’re in the venture business and
there are gonna be losses.”
However, he concluded that
“It
stinks to lost $115 million from our global growth fund. It’s 2 percent of that
fund”
“There
are companies that surprised us to the upside like AirBNB and DoorDash and
there are companies that are not going to do very well.”
He added
that
“still very excited about the concepts of crypto.”
Sequoia Capital lost
$115 million from investment in FTX, it accounted for 2% of its global growth
fund.
