Sequoia Capital led venture capitalists globally in first half of 2022 while Tencent topped Chinese peers, Hurun report says

Sequoia Capital has invested in 328 unicorns and ‘gazelles’ in the first six months this year

The impact of technology is no longer felt just in computers, but across all parts of the business world, Hurun chairman Rupert Hoogewerf says

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Sequoia Capital added an additional 43 new investments to its portfolio in the first half of 2022 compared with the same period last year. Photo: Getty Images

Published: 4:30pm, 6 Sep 2022

US investment firm Sequoia Capital, which has invested in several Chinese companies such as ByteDance, Shein and Envision Energy, was the world’s most prolific venture capital institution in the year’s first half.

A report by Hurun Research Institute ranking companies that have made the most investments during this period found that Sequoia Capital had invested in 328 unicorns and “gazelles” in this period. A gazelle is a high-growth company valued at US$500 million to US$1 billion. It is smaller than a unicorn, which is a privately held start-up valued at more than US$1 billion.

Sequoia Capital added an additional 43 new investments to its portfolio compared to the same period last year.

“The impact of technology is no longer [felt] just in computers, but across all parts of the business world,” said Rupert Hoogewerf, chairman and chief researcher at Hurun. “Venture capitalists play a critical part in the start-up ecosystem, bringing money, advice and connections to help start-ups grow into global-scale businesses.”

The report, released on Tuesday, lists 121 venture capital institutions, with 71 per cent founded in the United States and about 21 per cent from China. The 25 venture capitalists founded in China that are included in the rankings were led by Tencent Holdings, which ranked fourth with 122 investments. CICC Capital, which added 41 unicorns to its portfolio in the first half of this year, trailed close behind with 115 investments.

Sequoia China, a firm Sequoia Capital formed in 2005 with Neil Shen Nanpeng, an entrepreneur and co-founder of Ctrip, is one of China’s top technology industry financiers. Sequoia Capital has invested in ByteDance, Shein and Envision Energy, among other firms.

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