Sequoia Capital

Don faced challenges and uncertainties in raising the first independent Sequoia fund, with conflicting sources estimating the fund size to be between three to five million in 1970.

In 1972, Don Valentine established Sequoia Capital, a venture capital firm. He chose the name 'Sequoia' to symbolize longevity and commitment to empowering the next generation. The firm went on to become a major player in the tech industry, backing companies like Apple, Atari, Cisco, Google, Instagram, Airbnb, and Stripe.

In 1974, Sequoia Capital established its first venture capital fund, further solidifying its presence in the investment industry.

The following year after forming its first venture capital fund, in 1975, Sequoia Capital became an early investor in Atari, a significant move in the gaming industry.

In 1978, Sequoia Capital made a groundbreaking investment by becoming one of the first investors in Apple, a decision that would prove to be highly lucrative and influential.

Before Apple's IPO, Sequoia Capital sells its stake in Apple for $6 million, making a significant profit from their initial investment of $150,000. This decision reflects a shift in focus towards long-term, tax-exempt investors.

Sequoia Capital was involved in Apple's initial public offering in 1980, marking a significant milestone in the firm's investment history.

In 1996, Doug Leone and Michael Moritz took over the leadership of Sequoia Capital, leading the firm into a new era.

In 1999, Sequoia established a dedicated investment fund aimed at supporting Israeli startups, expanding its global reach.

During the dot-com bust of 2000, Sequoia Capital suffered significant losses from investments in companies like eToys and Webvan.

Sequoia Venture XI Fund raised $387 million in 2003 from limited partners, including universities and foundations. Over the years, the fund has generated significant gains, benefiting both Sequoia's partners and the limited partners.

Sequoia Capital expanded its presence by establishing Sequoia Capital China in 2005, followed by Sequoia Capital India, tapping into emerging markets.

In 2006, Facebook founder Mark Zuckerberg taunted Sequoia Capital by showing up late to a meeting wearing pajama bottoms. This incident led to Zuckerberg seeking funding from Accel Partners instead of Sequoia.

In 2007, Sequoia Capital had the chance to take a 10% stake in Twitter when it was valued at $20 million, but ended up saying no. Twitter's market cap has since grown significantly.

On July 1, 2008, the Sequoia National Forest commemorated its centennial.

Adi Tatarko and Alon Cohen, founders of Houzz in 2009, valued Sequoia's direct and fast decision-making process when raising funds, highlighting the importance of efficiency in their partnership.

Venture XIII, established in 2010, has shown remarkable returns of 88% annually. This success is expected to contribute to Sequoia's overall profitability and reputation in the venture capital market.

ServiceNow, a software company providing help-desk services, rejected a $2.5 billion buyout offer in July 2011, with Sequoia Capital's investor Mike Leone playing a key role in the decision.

In 2012, Michael Moritz, a key figure at Sequoia Capital, stepped down from his administrative responsibilities due to health reasons. Despite this change, Moritz continues to be actively involved in investing activities at the firm.

In 2014, nine investment partners from Sequoia Capital were recognized on the Forbes Midas List, which highlights the top technology investors globally. This achievement showcased the firm's success in the venture capital industry.

In 2016, Sequoia Capital made history by hiring Jess Lee as the first female investing partner in the United States, promoting diversity in the firm.

As of July 2019, Sequoia Capital operates in multiple countries including the United States, Israel, China, and India. The firm focuses on early-stage investments in 'dentmaker' companies and provides support in various aspects of business growth.

Described as a pivotal moment for Sequoia, where bold decisions are shaping the future of the company, enabling lasting value creation and deeper relationships with founders and their companies.

Sequoia Capital introduced The Sequoia Capital Fund in October 26, 2021, breaking away from traditional fund cycles. The new structure aims to provide patient capital for building enduring companies.

As of 2022, Sequoia Capital had around US$85 billion in assets under management, solidifying its position as a major player in the venture capital industry.

In June 2023, Sequoia Capital revealed its intention to split into three separate entities due to challenges faced in running a global investment business amidst geopolitical tensions.

A major institutional investor has recognized Sequoia's outstanding performance and its ability to generate value over a long period.