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Sequoia Capital has closed on $6 billion for its new global venture capital fund, which is targeting a total of $8 billion, as reported by the FT and confirmed by a source to Axios.

Why it matters: This is the largest venture capital fund ever raised by a Silicon Valley-based firm, and comes amid rising startup valuations and deep-pocketed pressure from foreign investors like SoftBank.

Sequoia Capital raises $6 billion for global VC fund

It's the largest VC fund ever raised by a Silicon Valley-based firm.

Sequoia Capital offices on Sand Hill Road in Menlo Park, California.

Photo via Smith Collection/Gado/Getty Images

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Sequoia Capital has closed on $6 billion for its new global venture capital fund, which is targeting a total of $8 billion, as <a class="gtmContentClick" data-vars-link-text="reported by the FT" data-vars-click-url="https://www.ft.com/content/2fd281f2-775a-11e8-8e67-1e1a0846c475?list=intlhomepage" data-vars-content-id="820bbacf-156c-4edc-a79e-b97147a47376" data-vars-headline="Sequoia Capital raises $6 billion for global VC fund" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.ft.com/content/2fd281f2-775a-11e8-8e67-1e1a0846c475?list=intlhomepage" target="_blank">reported by the FT</a> and confirmed by a source to Axios.Why it matters: This is the largest venture capital fund ever raised by a Silicon Valley-based firm, and comes amid rising startup valuations and deep-pocketed pressure from foreign investors like SoftBank.

Sequoia Capital raises $6 billion for global VC fund

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