Founder of DeFiance Capital: Current primary market does not have enough opportunities to match billion-dollar fund size
2023-07-28 09:00
Odaily News: This morning, The Wall Street Journal reported that Sequoia Capital will reduce the investment size of its cryptocurrency fund.
Regarding this matter, Adrian, founder of Newman Capital, commented that Sequoia is just doing the right thing. Every U.S. VC with a large asset management scale should take the same approach, either returning most of the managed assets to LPs (Limited Partners), or splitting the large fund into several smaller funds with different strategies, subject to LP approval.
Arthur, founder of DeFiance Capital, also commented that he agrees with Adrian's view. Sequoia has made a brave and correct decision. Currently, there are not enough opportunities in the primary market of cryptocurrencies to match the billion-dollar fund scale, especially considering the uncertainty of exits.
Regarding this matter, Adrian, founder of Newman Capital, commented that Sequoia is just doing the right thing. Every U.S. VC with a large asset management scale should take the same approach, either returning most of the managed assets to LPs (Limited Partners), or splitting the large fund into several smaller funds with different strategies, subject to LP approval.
Arthur, founder of DeFiance Capital, also commented that he agrees with Adrian's view. Sequoia has made a brave and correct decision. Currently, there are not enough opportunities in the primary market of cryptocurrencies to match the billion-dollar fund scale, especially considering the uncertainty of exits.
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