Successful With Chinese Startups, Sequoia China Launches a Hedge Fund

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Sequoia Capital China founder Neil Shen at the World Internet Conference in Wuzhen, China, last October.

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aly song/Reuters

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Jing Yang
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Jing Yang

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@jingyanghk

jing.yang@wsj.com

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Xie Yu
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Xie Yu

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@xieyuxy

yu.xie@wsj.com

Sept. 10, 2020 7:11 am ET

HONG KONG—Venture capitalist Neil Shen’s Sequoia Capital China is setting up a hedge-fund business to leverage its record of choosing winners in Chinese technology.

In August the firm launched the U.S.-dollar-denominated Sequoia Capital Equity Partners fund with initial capital of more than $300 million from investors, according to people familiar with the matter and filings with the U.S. Securities and Exchange Commission. It plans to invest in publicly traded stocks globally, the people said.

The launch puts Sequoia China in more-direct competition with Hillhouse Capital, another high-profile Chinese asset manager that has investments in private equity, venture capital and listed stocks around the world.

Veteran investor Mr. Shen co-founded Sequoia China in 2005, the same year Chinese entrepreneur and investor Lei Zhang established Hillhouse. The two firms have grown significantly and gained global prominence over the past decade, thanks to hugely successful bets on Chinese technology startups.

Sequoia China is …

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