Sequoia Capital plans to split China and India business

The Indian and South-East Asian will be rebranded as Peak XV Partners while the United States and European unit will remain as Sequoia Capital. — China Daily

BEIJING: United States venture capital giant Sequoia Capital has announced plans to split its Chinese as well as Indian and South-East Asian businesses into two independent firms amid economic and geopolitical challenges.

According to a statement provided to China Daily, the firm – known for its early backing of Google and a group of leading Chinese Internet companies like Alibaba Group Holding, JD and ByteDance – will brand its Chinese arm as HongShan, its Chinese pronunciation of Sequoia.