Founded in 1972 and headquartered in Menlo Park, Sequoia Capital now covers the United States and Europe only, following the March 2024 completion of the global partnership's three-way split — it shares a name and history with HongShan in China and Peak XV in India, but the investments listed here are its own. Roelof Botha stepped down in November 2025; Alfred Lin and Pat Grady took over as co-CEOs, and in March 2026 Doug Leone returned as chairman. Under the new leadership the firm reversed its earlier restraint on model-layer spending and now runs a barbell strategy: very large positions in Anthropic and OpenAI alongside frontier moonshots, plus the densest 2026 deal flow in agent infrastructure.
After missing the early rounds of OpenAI and Anthropic under a more restrained model-layer policy, the Lin and Grady partnership set out to reclaim the top spot, mobilising the entire partnership to compete for the most contested AI deals.
Sequoia entered Anthropic in February 2026 at a US$380B post-money valuation, then committed over US$2B as co-lead of the H round that raised US$65B at a US$965B valuation, weighing an increase to roughly US$2.5B — the largest AI bet in the firm's history. It is also an early OpenAI shareholder and followed the SoftBank-led mega-rounds, and backed xAI in 2024.
Agent infrastructure was the firm's densest category in 2026 with ten investments, close to a third of all deals — inference optimisation, workflow orchestration, retrieval and security. Alongside it sit Etched's transformer ASICs and Valar Atomics' nuclear power for data centres.
The application book concentrates on categories where AI substitutes for billable human work: legal (Harvey, backed across six rounds to a US$11B valuation), healthcare (Commure, OpenEvidence), finance (Rowspace) and sales (Clay). Frontier moonshots such as Ineffable Intelligence and Safe Superintelligence carry the tail risk.
Disclosed Sequoia Capital AI investments across the model layer, infrastructure and compute, vertical applications, physical AI and generative media.
Entered February 2026 at a US$380B post-money valuation, then co-led the US$65B H round at US$965B with over US$2B committed.
Early shareholder; participated in the subsequent SoftBank-led US$300B and US$852B valuation rounds.
Invested in 2024 in Elon Musk's model lab.
UK lab founded by David Silver pursuing a pure reinforcement-learning path; Sequoia co-led a US$1.1B seed round, Europe's largest, at a US$5.1B post-money valuation.
Early equity position in Ilya Sutskever's research company.
Led the US$300M Series C at a US$10.3B post-money valuation for transformer-specific ASICs.
Led a US$1B financing; partners visited the Utah desert site to watch the reactor connect to the grid.
Roughly one third of the firm's 2026 AI deals went into the agent tool stack: inference optimisation, workflow orchestration, external retrieval and agent security.
Backed across six rounds from Series A; co-led the US$200M G round at an US$11B valuation with roughly US$190M ARR and over 1,000 customers.
Revenue-cycle automation for providers; ARR passed US$200M.
Investment led internally by Pat Grady.
Investment led internally by Alfred Lin.
Early investor in Bret Taylor's conversational agent company.
Early investor, with Alfred Lin on the board.
Investment led internally by Alfred Lin.
Early investor in the answer engine.
Co-led a later-stage round at a US$126B valuation.
Follow-on investor in the leading AI voice platform.
Investor in the team behind the MirageLSD infinite-length video model.
Investor in generative game content tooling.
A selected, non-exhaustive sample from five decades of non-AI investing.
Backed the company at its 1993 founding.
Early and repeated investor.
Seed investor in 2009.
Multi-round investor ahead of the 2025 listing.
No rounds led by Sequoia Capital are in the tracker yet. Deals will appear here as they are recorded.