Sequoia Capital raises $6 billion for global VC fund

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.