PALO ALTO, U.S. -- The decision by U.S. venture capital giant Sequoia Capital to split off its China division reflects the growing impact of tensions between Washington and Beijing on startup investment in Silicon Valley.
"To deliver on our mission, we have decided to fully embrace our local-first approach," Sequoia said Tuesday in a joint statement from the three heads of its U.S. and Europe, China and India businesses. The three funds will be split up and independently operated by March 2024. Sequoia Capital India also handles investments in Southeast Asia.
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