Sequoia Capital China in talks for new $2.8 billion fund – The Information

(Reuters) – Sequoia Capital’s China unit is in talks to raise around 20 billion yuan ($2.79 billion) for a new Chinese currency fund from domestic backers including the government of the city of Hangzhou, The Information reported on Thursday, citing a person with direct knowledge of the matter.

($1 = 7.1694 Chinese yuan renminbi)

(Reporting by Nilutpal Timsina in Bengaluru; Editing by Anil D’Silva)