(Reuters) - Silicon Valley venture capital giant Sequoia Capital is in the early stages of raising $5 billion to $6 billion for a third global growth fund, Recode reported.
The venture capital firm is looking to raise more money in the wake of disruption from SoftBank's $100 billion vision fund, Recode added. bit.ly/2kvHkJx
Reuters had earlier reported that Sequoia’s China arm was looking to raise $1.5 billion or more for a yuan-denominated fund.
Sequoia’s previous fund in the series had invested in companies like Airbnb, Stripe and Toutiao.
Sequoia Capital did not comment on the report.
Reporting by Parikshit Mishra in Bengaluru; Editing by Sunil Nair