Sequoia Capital reportedly raising two new funds – TechCrunch

Venture capital investments might be slower but this seems to be giving venture capital companies some time to raise funds on their own.

Sequoia Capital is said to be the latest to raise two U.S.-focused funds. They are estimated to be worth up to $2.25 Billion. The Information reported earlier this week.

According to the publication, Sequoia, a Menlo Park-based fund manager, is seeking $1.5 billion to fund a U.S. growth fund that focuses on later-stage companies as well as a fund of $750 million for earlier-stage startups. Both funds are expected to close by July.

This news comes just a month after the venture capital firm told founders that it expected a longer economic recovery. Colleagues reported Sequoia telling them, “With the cost of capital (both debt and equity) rising, the market is signaling a strong preference for companies who can generate cash today.”

TechCrunch reported last October that Sequoia Capital had made a major shift in its strategy to increase its returns in the face of increased competition in the startup financing market. The storied venture capital company announced that it was abandoning the traditional structure of funds and their artificial timelines for returning LP Capital. The firm’s future investments, it said, would now flow through a “singular, permanent structure” called The Sequoia Fund.

Recent developments in funding have not been limited to the VC company. This week, for example, the VC firm raised new funds earlier in the week. Drive Capital said it raised another $1 billionTo invest in startups located in central America, Conversion Capital will bring its assets under management up to $2.2 billion. Conversion Capital announced earlier this week a $122 million fund to support early-stage infrastructure and fintech startups. Meanwhile, Simple Food VenturesFirst close to its $15 million fund for healthier grocery store staples. In the last few months, we also saw Anterra CapitalAnnounce its $260 million second global food and agricultural tech fund Vine VenturesClose to $140 million will be invested in Israeli startups.