Sequoia launches China accelerator
Sequoia Capital China has launched an accelerator programme under the Yue brand, which will provide systematic training and resources for entrepreneurs at the angel and Series A stages.
The move comes weeks after Sequoia hit the hard cap on each of the four funds in its latest China vintage, accumulating USD 8.8bn. It raised USD 480m for a third seed fund, USD 1.1bn for a ninth venture vehicle, and USD 3.6bn apiece for growth and expansion funds. The last time the firm came to market in 2020 it raised USD 3.68bn.
The Yue programme will be led by Neil Shen, Sequoia's managing partner, and courses will be taught by partners at the firm. Experienced CEOs and partners from Sequoia's affiliate entities in the US, Europe, India, and Southeast Asia will also be invited to participate.
The curriculum has been developed exclusively by Sequoia, supported by a large number of case studies and data it has accumulated over the years. The goal is to cultivate basic entrepreneurial capabilities and business knowledge to improve the success rate of early-stage start-ups.
The six-week programme has two core focus areas: enterprise development, which covers taking a product from concept through commercialisation and growth; and founder development, which includes modules on recruitment, fundraising, and establishing a corporate culture.
Select graduates will receive around USD 1m in funding and become part of Sequoia's entrepreneur community, with access to various business development services. They may also be invited to join one of Sequoia's seven incubators across four cities in China.
Shanshan Guo, a partner who is working on the programme, said it was important in facilitating Sequoia's transition from capital-oriented investor to service partner. It also enables the firm to establish deeper relationships with entrepreneurs at an earlier stage, potentially de-risking future investments.
Sequoia already has several accelerator programmes in India and Southeast Asia: early-stage accelerator Surge, female founder-focused Spark, and sustainability-driven Build. To date, Surge is the only one to raise a fund in addition to providing grants and industry expertise.
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