Sequoia Capital cuts management fees for its $600 million crypto fund

ChainCatcher news, Sequoia Capital partner Alfred Lin stated that in response to the increasingly slowing investment environment, Sequoia Capital has reduced the management fees for two new venture funds, including a $950 million ecosystem fund and a $600 million crypto fund focused on investing in cryptocurrency companies and token projects (as of now, 10% of the funds in the crypto fund have been deployed).

Sequoia Capital's move may be related to the plummeting valuations of tech companies and the FTX collapse, but Alfred Lin emphasized that while Sequoia Capital's investment pace has slowed, it will continue to push forward. Sequoia Capital remains a long-term optimist in the crypto industry and several other sectors. (source link)