The venture capital firm said Sequoia India and Southeast Asia will become Peak XV Partners and Sequoia China will become HongShan, while the U.S. and European business will remain Sequoia Capital.
But, the decision comes amid macroeconomic and geopolitical challenges that have made fundraising difficult and eaten into venture funds' returns. Investing in China by global investors, in particular, has slowed significantly as the world's second-largest economy grapples with economic woes after pandemic curbs eased and since it tightened regulatory oversight that stymied growth in the technology and internet sectors.
Source: News Formal (newsformal.com)
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