Venture capital firm Sequoia Capital has closed a $180m early-stage fund.
Sequoia Scout III represents the consolidation of its seed program into a single fund which will be focused exclusively on seed-stage opportunities.
The firm seeks founders with a unique insight focused on a market poised for large growth being more interested in what might be possible than in a working product or existing customers.
Sequoia works with SAFEs or convertible notes and typically does not take board seats, helps companies raise their next round of financing trying to lead it.
Focus areas can be AI, Autonomous vehicles, Blockchain and cryptocurrencies, precision genetic engineering, computing and connectivity.
Sequoia has been the first investor in legendary companies like Google, Yahoo!, LinkedIn, YouTube, WhatsApp as well as Dropbox, and Airbnb. Since 2010, about 75% of the firm-backed seed-stage companies have gone on to raise Series A financing (about 2–3x irs peer group average) with many others choosing to join larger technology companies like Facebook, Twitter and LinkedIn.