venturecapital

Sequoia offering LPs to cash out ~14 year-old positions in Stripe at $70B valuation by directly purchasing their shares. Very few firms can do crossover investing successfully. Clever move that generates DPI for older vintages but risky for LPs in Sequoia Global Equities Fund if Stripe continues to delay IPO or if market turns.

Sequoia offering LPs to cash out ~14 year-old positions in Stripe at $70B valuation by directly purchasing their shares. Very few firms can do crossover investing successfully. Clever move that generates DPI for older vintages but risky for LPs in Sequoia Global Equities Fund if Stripe continues to delay IPO or if market turns. https://www.axios.com/2024/07/15/sequoia-capital-stripe

Just heard the AllIn guys talk about this. 3,500x return for the Seed investment from Mike Moritz 🤯. I don't know how I'd feel as a Sequoia LP from the Global Equities fund providing liquidity to earlier LPs form the venture fund though...