Silicon Valley Funding News - Week of November 1, 2021.

I tested PCR negative again and finally made it to Lisbon from Riyadh! 

Once upon a time the 10-year venture fund cycle made sense, but that's no longer the case for Sequoia Capital. 

This past week, Sequoia made a super bold and disruptive move with the launch of The Sequoia Fund - a singular, permanent structure that will allow it to hold public equities for a longer period of time.  The Sequoia Fund is an open-ended liquid portfolio made up of public positions in a selection of our enduring companies.  It will in turn allocate capital to a series of closed-end sub funds for venture investments at every stage from inception to IPO.

Crypto startups have received nearly $16 billion in funding in 2021 from some of the biggest names in venture including a16z to Sequoia Capital. The amount of money in rounds led this year in crypto by Coatue, $1.9 billion; Tiger Global, $1.4 billion; and Andreessen Horowitz, $759 million, alone surpass all of last year’s funding. Read more here.

Race Capital portfolio companies are hiring!  Check out our job board. 

This week a total of 30 startups raised $1.9355B in funding, 6 exits:

• $891.7M goes to 17 Enterprise startups
• $40M goes to 1 FinTech startup
• $350M goes to 2 Crypto/Blockchain startups
• $47M goes to 1 InsurTech startup
• $45M goes to 1 Manufacturing startup
• $6.5M goes to 1 Marketplace startup
• $4.3M goes to 1 Travel startup
• $3M goes to 1 Gaming startup
• $471M goes to 3 Healthcare startups
• $77M goes to 2 BioTech startups