Sequoia’s New Leaders Raise About $7 Billion for Biggest Bets

Sequoia Capital, one of the largest and most prominent venture capital firms, has raised about $7 billion for a new fund according to people familiar with the discussions — the first fresh fundraising under Sequoia’s new leadership.

The latest fund will allow Sequoia to expand its bets on large companies including artificial intelligence startups like OpenAI and Anthropic, whose immense needs for expensive computing resources have driven record-breaking fundraising hauls.

The $7 billion will be dedicated to the firm’s so-called expansion strategy, which backs its latest stage investing in the US and Europe. It’s roughly double the firm’s last expansion fund: a ...