[romanzubenko]

in 2021 Sequoia switched their strategy to hold on to stock of their portfolio companies for few more years after IPO.

"Sequoia is abandoning the 10-year venture fund, in which limited partners, the outside investors that contribute to the fund, expect to get paid back over a decade. The firm said it’s establishing a single fund, the Sequoia Fund, that will raise money from LPs and then funnel that capital down to a series of smaller funds that invest by stage.

Proceeds from those funds will feed back into the Sequoia Fund. With no time horizon, Sequoia can hold public stock for longer stretches, rather than distributing those shares to LPs. Investors who want liquidity can pull money out instead of waiting for distributions."

https://www.cnbc.com/2021/10/26/sequoia-changes-fund-structu...

[htrp]

Ah permanent capital vehicles... forgot Sequoia did this too