Term Sheet

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Sequoia Capital raises more than $1 billion for startups

August 15, 2013: 1:18 PM ET

seqcap_leaf_white_on_greenSilicon Valley VC firm closes three new funds.

FORTUNE -- Sequoia Capital, the venture capital firm known for its early investments in companies like Google (GOOG) and LinkedIn (LNKD), has raised nearly $1.1 billion for new funds that will back start-ups in the U.S., China and Israel.

Here's the breakdown, based on SEC filings disclosed today:

  • Sequoia Capital XIV (U.S.-focused): $475 million
  • Sequoia Capital China: $370 million
  • Sequoia Capital Israel V: $227 million

Sequoia also manages a $950 million growth equity fund raised late last year.

The dedicated fund strategy is a bit of a reversal for Sequoia, which in 2010 raised $1.3 billion for an umbrella vehicle that encompassed all geographies. Fortune originally reported on the new plan in May 2012, and Sequoia held first closes on the funds last September.

It's also worth noting that the U.S. fund may actually be a bit larger, as we have not yet seen a filing for the affiliated "principal's fund" -- which would include fund commitments from Sequoia's partners. The China and Israel figures do include such commitments.

UPDATE: Sequoia has now disclosed another $78 million in commitments for the U.S. fund, bringing the overall total to $1.15 billion.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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