Sequoia Capital is planning a huge business in the cryptocurrencies market

 Cryptocurrency company Sequoia Capital is planning a massive undertaking in the cryptocurrency market by creating a new $600 million crypto fund.

Sequoia Capital is planning a huge business in the cryptocurrency market

'It's the future of money' were the buzzwords of Sequoia Capital's Sean Maguire. Emphasizing his view that they have a long-term view of cryptocurrencies and that they represent a huge trend over the next twenty years.

Sequoia Capital has never set up any fund

Thus, Sequoia Capital's move to establish an independent cryptocurrency fund is out of the ordinary. The 50-year-old company has not set up a monetary fund in a specific sector before.

But this was widely expected and the change comes after a broader revamp of the company's structure, giving it greater flexibility to fill positions in public companies. And the ability to circumvent the rules that specify investments and projects in cryptocurrencies by 20% of the IMF.

Sequoia Capital, which was considered the mother of the cryptocurrency world, is almost the only investment company to do so. The research company CB Insights reported that global investors have invested more than $21 billion in this sector during 2021, to get the largest percentage among its friends over the past decade.

Statements of company officials

Sequoia Capital officials said Thursday that it will be one of three new sub-funds in the company. And this is under the broader umbrella of the Monetary Fund of the parent company in Sequoia Capital.

The new cash funds for capital already pledged by Sequoia Capital's partners will be used by the company's existing limited partners in place of the new financing.

The Limited Partners are a group of university endowments and pension funds that support the changes. They choose to include 95% of the eligible balances in the new company structure. These partners are also entitled to specify whether they want to allocate their money to one or more of the sub-funds.

'We are investing in the horizon of thirty years, we are not an arbitrage company,' said Michael Baylehy, partner at Sequoia Capital. She expressed her opinion that she is not indifferent to the fluctuations in the prices of currencies such as "Bitcoin", Ethereum" and other metal currencies - beautiful is self-confidence -.

As for its partners, they say that low valuations of start-up companies may be attractive to their company. And last but not least, Mr. Maguire is one of the owners of Sequoia. His opinion was that it is possible to invest in a cryptocurrency fund in less than a year if the market is bearish.