Venture capital powerhouse Sequoia Capital is breaking up into three entities around the world, splitting the Chinese and U.S. operations as tensions grow between the world¡¯s two largest economies.
The firm, known for its early backing of Google, Instagram and some of China¡¯s biggest internet companies, will separate into independent partnerships and separate firms, operating under different brands, no later than at the end of March next year, the company said.
¡°It has become increasingly complex to run a decentralized global investment business,¡± Sequoia said in a press release signed by regional heads Roelof Botha, Neil Shen and Shailendra Singh. ¡°This has made using centralized back-office functions more of a hindrance than an advantage.¡±
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