Odaily Planet Daily News This morning, the "Wall Street Journal" reported that Sequoia Capital will reduce the investment scale of its cryptocurrency fund.
In response to this matter, Adrian, founder of Newman Capital, commented that Sequoia is only doing the right thing, and every American VC with a huge asset management scale should take the same approach, either returning most of the assets under management to LPs, or Under the premise of LP approval, the huge fund is divided into several small funds with different strategies.
Arthur, the founder of DeFiance Capital, also commented that he agrees with Adrian that Sequoia has made a brave and correct decision. Currently, there is not enough opportunity in the primary market for cryptocurrencies to match the size of multi-billion dollar funds, especially given the uncertainty of exits.