Sequoia Capital has raised $929.5 million for Sequoia Capital U.S. Growth Fund IV, according to regulatory documents filed recently with the Securities and Exchange Commission.
Sequoia expects to earn $202 million in salaries and fees from its fourth growth fund, according to the regulatory filing (worth pointing out that recent study that shows compensation in the PE world was up 32.3% in 2007?)
The firm’s partners did not respond to requests for comment, but the growth fund is likely the latest iteration of the growth investing fund series that the firm started in 1999, when it raised its $350 million Sequoia Capital Franchise Fund.
Most recently, Sequoia Capital raised a $861.5 million third U.S.-focused growth fund in May 2006, augmenting it with $175 million in January 2007 for a fund called Sequoia Capital Growth Fund III. In addition, late last month, the firm’s overseas affiliate, Sequoia Capital India, closed its second growth equity fund with $725 million in capital commitments.
Look out for Monday’s PE Week for more details.