“All in Crypto”: what is Sequoia Capital investing in?

It seems that Sequoia Capital's Twitter has influenced the outside world by switching providers, offering NFTs and replacing companies in their profiles with “DAO”. But what is certain is that from Shen Nanpeng's new “all in crypto” announcement to the firm's clear instructions on how to invest in the crypto space, the big guys can't wait.

Sequoia Capital is one of the world's largest Internet companies and a leading Internet VC in China. Getting an investment from Sequoia Capital often means becoming an industry leader. Recently, Sequoia Capital has started to jump into the good-humored cryptocurrency space.

Around 2017, Sequoia Capital invested in China three of the largest cryptocurrencies, including Binance, Bitmain and Huobi, and three of the largest public chains.

Huobi.com received several million dollars from Sequoia China in March 2014, Sequoia Capital participated in several investments in Bitmain from 2016 to 2018, and Sequoia Capital attempted to join Binance Investment in 2017, but ultimately failed. Sequoia Capital has also been involved in a number of public companies, including NEO, Nervos and Conflux (2018).

The dispute between Sequoia Capital and Binance has become an all-time high in the industry, and to Changpeng Zhao's surprise, it has been announced that he will be strictly reviewing Sequoia Capital's capital. The delay in Bitmain's IPO has also been a headache for Sequoia, and it is rumored that Shen Nanpeng went straight to the solution of the two Bitmain founders in order to find an IPO as quickly as possible.

Similar to the usual hype in 2017, Sequoia Capital began to lose interest in the cryptocurrency industry as the industry began to weaken in 2018. It was not until 2021 that the returns of the bull market began to enter the cryptocurrency industry with good spirits.

In January of this year, Sequoia China announced that it had completed its venture capital in Dragonfly Capital and had become a good partner. In May of this year, Sequoia China joined a $ 50 million Series A funding through cryptocurrency financial services provider PayPal Financial.

Around 2021, Sequoia Capital in turn joined FTX Exchange, Animoca Brand (parent company of SANDBOX), the new social network BitClout, the crypto asset management platform Coinshift, the defi Beta Finance platform, the video chat platform Collect and Polkadot. DeFi Parallel Finance, NFT Pulsr social platform, Ethereum Layer 2 StarkWare developer, CertiK security, Fireblocks digital storage platform, Polygon public channel (not announced), Business investment market defined according to Polkadot ecology , Clearpool NFT SubGift platform, etc. .

It should be noted that Sequoia Capital, Sequoia China and Sequoia Capital India all participated in the above activities. Sequoia Capital does not look for venture capital firms like the first ones, and some small and medium-sized businesses and businesses continue to receive investments.

On the other hand, Sequoia Capital is by far the leading VC in the current cryptocurrency industry (a16z, multicoin, paradigm, 3ac, coinbase, dcg, binance, etc.) in terms of efficiency and quantity of resources. . ). The trajectory is also confusing and the crypto industry appears incapable of sustaining operations that it has been profitable for some time.

Some compare the Sequoia 2017 investment to Xu Xiaoping, but some believe it was the man who carried when a cow turned into a bear. However, the cryptocurrency industry still has hopes that Sequoia Capital can participate in the development of the cryptocurrency industry through the bulls and bears without backing down.