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Sequoia Allocates $600 Million for Liquid Tokens and Digital Assets

In February, Sequoia Capital took a significant step into the cryptocurrency space by allocating up to $600 million to invest in liquid tokens and digital assets. This move reflects a growing trend among venture capital firms to establish dedicated vehicles and teams focused on blockchain investments.

Sequoia's new team, led by Samuel Harrison, former managing partner of Blockchain Ventures, and Banafsheh Fathieh, the former head of investments at Prosus Ventures, is committed to exploring the vast potential of digital assets. The allocation is part of a larger effort by US venture capital firms to raise funds for blockchain-related investments.

According to recent data from PitchBook-NVCA Venture Monitor, US VC firms raised $121.5 billion in the first six months of 2022, accounting for 87% of the record $138.9 billion committed in 2021. This increased interest in blockchain investing is evident in the growing number of mega-funds worth $1 billion or more, with this year's total reaching a staggering $77 billion.

At Lightspeed, we are dedicated to supporting innovative companies and fostering meaningful connections between our portfolio firms and Fortune 1000 IT executives. Our annual conference brings together leaders from the world's largest cloud providers, top analysts, and influential technology firms, creating opportunities for collaboration and growth.

Our curated network of over 2,500 enterprise IT and innovation leaders across 1,200+ companies provides a platform for our portfolio startups to connect with progressive and early-adopting IT leaders. This powerful mechanism enables us to generate hundreds of millions of dollars in ARR for companies and facilitate pivotal partnership deals with a deep network that has been twenty years in the making.

As we continue to navigate the evolving landscape of blockchain investments, we are committed to providing our portfolio companies with direct access to our exclusive network of vendors, saving them time and money. With proven strategic partners at their disposal, our companies can focus on refining product design, positioning, and fit, leading to better, more relevant products achieving higher attachment rates.

In this rapidly changing environment, Lightspeed's dedicated team, Faction, is well-positioned to capitalize on the growing demand for blockchain-related investments. By leveraging our expertise and network, we are poised to help shape the future of digital assets and drive innovation in the IT landscape.

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