Sequoia Capital launches crypto fund worth up to $600M

Sequoia Capital has launched a new cryptocurrency fund as part of its ongoing efforts to bootstrap the next generation of blockchain-focused startups.

Bloomberg reported Thursday that Sequoia is allocating up to $600 million towards the new sector-specific fund.

The new crypto fund is part of three new sub-funds that were introduced by Sequoia on Thursday.

The new funds, which operate under the Sequoia Capital Fund, will rely on capital that's already committed by the firm's limited partners. Source: Cointelegraph

Sequoia has largely focused on crypto adoption, with firms backing projects across various sub-sectors including nonfungible tokens, decentralized finance, crypto exchanges and infrastructure services.