Sequoia Capital’s evergreen fund grows to almost $20 billion

Sequoia Capital’s evergreen fund has grown to $19.6 billion, according to a US Securities and Exchange Commission filing, a signal that the prestigious firm continues to grow despite a venture capital funding slowdown.

The fund’s total includes new cash commitments, shares of now-public companies that Sequoia previously backed and cash returns from mergers and acquisitions.

Sequoia restructured in 2021, creating the major investment vehicle, known as the Sequoia Capital Fund, which can hold publicly traded stocks and other types of assets. Rather than having a limited lifespan, as with most venture funds, the Sequoia Capital Fund is evergreen, holding assets for an indefinite timeframe. The size of the fund has steadily expanded since its launch, increasing from $13.6 billion in early 2023, according to regulatory filings.


Sequoia continues to manage sub-funds that feed into the larger core fund. The firm’s assets under management have reached a total of $56 billion, according to a separate regulatory filing from January, placing it among the largest venture capital firms.