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Illustration: Sarah Grillo/Axios

Sequoia Capital told its investors on Friday that some of their personal and financial information may have been accessed by a third party, after a Sequoia employee's email was successfully phished, Axios has learned.

Why it matters: Sequoia is one of the largest and most successful venture capital firms in the world, with portfolio companies like Airbnb, DoorDash, and Robinhood. It also has invested in cybersecurity firms like FireEye and Carbon Black.

  • Sequoia's investors, known as limited partners, include university endowments, tech executives and charitable foundations.
  • Sequoia told investors that it's been monitoring the dark web, and has not yet seen any indication that compromised information is being traded or otherwise exploited.

In a statement to Axios, a Sequoia spokesperson said:

"We recently experienced a cybersecurity incident. Our security team responded promptly to investigate, and we contacted law enforcement and engaged leading outside cybersecurity experts to help remediate the issue and maintain the ongoing security of our systems.
"We regret that this incident has occurred and have notified affected individuals. We have made considerable investments in security and will continue to do so as we work to address constantly evolving cyber threats."

Go deeper

VC fund investors not raising alarms over SPAC trend

Illustration: Sarah Grillo/Axios

Venture capital firms, formed to invest in startups, are increasingly becoming sponsors of SPACs, blank-check companies that bring later-stage businesses into the public markets. It's significant strategy creep, but so far there hasn't been much opposition from venture capital fund investors, known as limited partners.

Be smart: SPACs are similar to VC in spirit and skills, which is how firms are selling it to their own investors.

Chauvin trial leaves cities, activists across America on edge

Illustration: Brendan Lynch/Axios

The impact of the Derek Chauvin trial is reverberating far beyond the walls of the downtown Minneapolis courtroom.

The state of play: With the trial set to enter its third week, activists across America are watching the proceedings unfold with heavy skepticism that what they perceive as justice will be served.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

The dispiriting housing boom

Illustration: Sarah Grillo/Axios

It's a discouraging scene: Bidding wars, soaring prices, and fears that homeownership is becoming out of reach for millions of Americans. We're in a housing frenzy, driven by a massive shortage of inventory — and no one seems to be happy about it.

Why it matters: Not all bubbles burst. Real estate, in particular, tends to rise in value much more easily than it falls. Besides, says National Association of Realtors chief economist Lawrence Yun, this "is not a bubble. It is simply lack of supply."