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> Sequoia Capital, the world’s most prominent venture-capital firm, got covered the $1 billion it had with the lender. Kanzhun Ltd., a Beijing-based tech compan
by civilitty 3y ago
> Sequoia Capital, the world’s most prominent venture-capital firm, got covered the $1 billion it had with the lender. Kanzhun Ltd., a Beijing-based tech company that runs mobile recruiting app Boss Zhipin, received a backstop for more than $900 million.
My lord some of these clients are actual investment firms.
Why the hell is Sequoia hanging on to a billion in cash? I can't imagine cash flow is an issue when you've got those kinds of numbers. They can't find overnight lenders instead of keeping it under SVB's mattress?