Venture equity firm Sequoia Capital wants to register with the SEC as an investment advisor to further invest in alternative assets like crypto.
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According to the statement made by Roelof Botha, one of the partners of the company, the company aims to create a fund where it can hold its investments without an “artificial time horizon”. Botha thinks the traditional VC model is obsolete.
Thus, Sequoia Capital can take part in the boards of directors of private companies after going public.
Founded in 1972, Sequoia Capital is among the oldest venture capital firms to support companies such as Instagram, Google, Yahoo and Paypal.
Andreessen Horowitz, one of the company’s top competitors, got into the crypto asset business quite early and managed to raise $2.2 billion for his third crypto fund.