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Sequoia Capital raises $6 billion for global VC fund

Sequoia Capital offices on Sand Hill Road in Menlo Park, California.
Photo via Smith Collection/Gado/Getty Images

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.