Sequoia Capital has raised approximately $7 billion for its largest-ever late-stage fund, nearly doubling its comparable $3.4 billion fund raised in 2022. The money will be used to support the expansion strategy of the firm’s "expansion strategy" - its late stage investing arm in the US and Europe. This is the first fresh capital raise under co-stewards Alfred Lin and Pat Grady, who succeeded Roelof Botha as joint managing partners after Botha was removed in a surprise vote. The fund covers US and European investments only for those focusing on US and EU.