Silicon Valley venture capital giant Sequoia Capital is in the early stages of raising $5 billion to $6 billion for a third global growth fund, Recode reported.
The venture capital firm is looking to raise more money in the wake of disruption from SoftBank’s $100 billion vision fund, Recode added.
Reuters had earlier reported that Sequoia’s China arm was looking to raise $1.5 billion or more for a yuan-denominated fund.
Sequoia’s previous fund in the series had invested in companies like Airbnb, Stripe and Toutiao.
Sequoia Capital did not comment on the report.
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