红杉资本 · 573

Wang Lihong appeared as the head of Yushu's IPO thank-you reception. The previous concert with YuShu Robotics attracted Musk's appreciation

Comparing news, today, Yushu Technology's IPO was successfully completed. Wang Xingxing, Sequoia Capital Shen Nanpeng, and famous singer Wang Lihong all appeared at the thank-you reception. It is worth pointing out that Wang Lihong has deep ties with Yu Shu Technology. According to public reports, Wang Lihong made a special trip to visit founder Wang Xingxing to learn about technology. Furthermore, in December of last year, Wang Lihong used Yu Shu's G1 humanoid robot to accompany the concert in Chengdu, making it the world's first concert robot stage. Musk and other famous tech giants have retweeted related videos one after another to express their appreciation.

3d ago

Kalshi's valuation may rise to $40 billion, and Sequoia and Wellington discuss a new round of investment

Comparative news, according to The Information, Sequoia Capital (Sequoia) and asset management giant Wellington are in in-depth negotiations with Kalshi, an investment prediction market platform. The deal is worth about 40 billion US dollars. Wellington will be Kalshi's new investor, and the agency has invested in companies nearing the IPO stage several times in the past; the relevant deal has yet to be finalized.

9d ago

From Avenir to UMX, Li Lin's return and new propositions

Author: Eric, Foresight News In the summer of 2026, UMX, which was incubated by Li Lin's Avenir Group, began public testing, which also made outsiders once again set their sights on this group of Chinese entrepreneurs in the crypto industry. Thirteen years have passed since Huobi was founded in 2013. At that time, Li Lin was standing in a market that had just taken shape. The problem he faced was very straightforward: how to make it easier for more people to trade Bitcoin. Thirteen years later, the crypto industry has moved from a relatively independent digital asset market to a new stage of continuous convergence with ETFs, stablecoins, RWA, and traditional securities. Over the past few years, Li Lin's role has also changed. In 2023, he founded Avenir Group in Hong Kong, gradually shifting from a frontline entrepreneur to an investor and asset allocator, continuing to focus on digital assets, securities trading, and financial infrastructure. Today, UMX has emerged as an “Avenir Group Incubator”, giving these seemingly scattered investment leads over the past few years a new perspective. Problems also followed. In the years since Huobi founded Avenir Group, what exactly is Li Lin doing, and what is it that has made him stand back to the stage now? From Beijing to Hong Kong, from athletes to referees, to understand this return, they must first go back to where they left. In September 2013, Huobi went online. It was a crazy year when Bitcoin rushed from 800 yuan to 8,000 yuan. It was also a year on the eve of Mentougou's collapse and the industry grew reckless. A young man from Hengyang, graduated from the Tsinghua Automation Department, wrote code for Oracle, and had started a business twice. Using the “permanent exemption of processing fees,” he cut through the Bitcoin exchange market, which had experienced rough experiences at the time. Half a year after launch, Huobi's daily transaction volume exceeded 1.5 billion yuan. At its peak, it occupied more than half of the global Bitcoin exchange market. Zhenge Fund, Dai Zhikang, and Sequoia Capital followed one after another, and Li Lin became one of the most familiar faces of entrepreneurs in the Chinese crypto world. Over the next decade, Huobi and Li Lin experienced a complete cycle of the crypto industry from early recklessness to global compliance competition. For an entrepreneur, this experience left behind not only how to become a trading platform, but also a complete set of perceptions about trading, liquidity, user needs, account systems, and risks. However, running a platform and allocating a sum of money is not the same way to look at the market. In 2023, Li Lin founded Avenir Group in Hong Kong. The name comes from French and means “better future”. From managing an exchange with your own hands to managing a multi-strategy family office, the roles have changed, and so has the way you look at the market. In the past, he was an athlete on the field, watching user growth, transaction volume, product lines, and liquidity, and was fighting closely with his opponents every minute and every second. Now he is sitting on the sidelines and working as a fund allocator, but what he sees is a different set of problems. Where are funds left idle, where are assets split, why can't accounts be exchanged, and why is risk difficult to be managed uniformly. These issues are hard to see from an operator's perspective, because exchanges naturally only care about matters within their own market. From the perspective of the configurator, they are so dazzling that one cannot ignore them. Avenir's actions over the past few years have vaguely outlined a main line. The list has been drawn up for a long time. It has taken a stake in UP Fintech, the parent company of Tiger Securities, as a core investor, participated in the US$300 million equity financing of the Hong Kong licensed platform OSL, invested in the institutional order routing company CoinRoutes and options derivatives infrastructure SignalPlus, led the AI native quantification platform Inference Research, and signed multiple assets with Tiger Securities and AMINA Bank on Consensus Hong Kong Infrastructure Cooperation Memorandum. According to the 13F filing submitted to the SEC, Avenir ranked first among Asian Bitcoin ETF institutions for eight consecutive quarters, with BlackRock IBIT alone holding more than 18 million shares. In addition, Avenir launched a $500 million quantitative partnership program to provide capital and ecological support to mature quantitative trading teams, and also acquired the Japanese compliant trading platform BitTrade through the Xinhua Group. The investment reach of licensed platforms, brokerage services, transaction execution, quantitative capabilities, and stablecoin payments covers almost every aspect required to connect the two markets. Looking at individual projects, these investments are scattered across different products and markets. When you look at it together, the direction gradually...

10d agoForesight News#web 3.0

AI infrastructure startup Trajectory raises $40 million, Sequoia invests

Comparatively, AI infrastructure startup Trajectory announced the completion of 40 million US dollars of financing, with a post-investment valuation of 300 million US dollars. Sequoia Capital (Sequoia Capital) participated in the investment. The specific financing round and other investors have not yet been disclosed. Trajectory was founded by former researchers at technology companies such as Google and Apple to help companies customize open source AI models for specific business needs and optimize the software toolchain (or “Agent Harness”) that supports the operation of AI agents. As the cost of using the closed source big model continues to rise, more and more companies are looking for alternatives: on the one hand, reduce costs by fine-tuning and customizing the open source model, and on the other hand, improve the Agent execution framework so that the AI model can call tools and perform tasks more effectively. This trend is driving a new wave of entrepreneurship around model adaptation and agent infrastructure. Trajectory's goal is to solve the key problems faced by enterprises in deploying AI agents, including model performance optimization, task execution reliability, and enterprise scenario adaptation. The company hopes to help enterprises build more efficient and low-cost AI applications by providing model customization and agent operation infrastructure. Investors believe that as AI evolves from simple chatbots to agents that can perform complex tasks autonomously, a new layer of infrastructure around model optimization and agent engineering will become an important market. Sequoia has also continued to increase the AI infrastructure sector in recent years, including investing in AI agents and enterprise AI applications. (The Information)

11d ago#financing

Corma closes $60 million seed round

According to the “” report, Corma, a cybersecurity startup founded in 2025, announced the completion of a $60 million seed round with investors including Sequoia Capital (Sequoia Capital), Khosla Ventures, and Coatue. Headquartered in Tel Aviv and San Francisco, Corma deployed its first AI model six weeks ago to multiple Fortune 100 and 500 companies across industries, spanning healthcare, financial services, energy, critical infrastructure, and retail. Unlike current cybersecurity models that are mostly trained by OpenAI, Anthropic, Google, etc. for “attacks,” the model trained by Coma focuses on “defense,” focusing on analyzing logs and audit data, identifying threats in massive incidents, and maintaining a consistent strategy across thousands of operations. According to the company, its model has helped customers reduce threat response times by 94%. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

11d agoburnking#financing

AI stock god Leopold became a hero after bursting out of positions, and Silicon Valley Capital set off a wave of popularity

Comparatively, after Leopold, a new 25-year-old Wall Street AI shareholder, burnt out its hedge fund Situational Awareness, Silicon Valley Capital instead set off a wave of popularity for it. People familiar with the matter revealed that a large number of Silicon Valley investors took the initiative to contact the fund within just a few days to express their intention to invest more. Sequoia Capital partner Pat Grady publicly stated that he will be an important figure in Silicon Valley for a long time; senior venture capitalist Elad Gil also announced his first application to invest in the fund; Logan Bartlett, managing director of Redpoint Ventures, bluntly stated that there is a heroic prototype here — Leopold was punched, which instead stirred everyone's unity. Despite being hit hard, the fund recorded positive returns of around 80% this year, and the remaining asset portfolio is worth around $10 billion. However, Situational Awareness has advised investors that new funding will not be accepted for the time being. Leopold himself announced in a letter to investors that all leverage had been removed, characterizing the crisis as a costly but priceless lesson, and at least not using the bank's main brokerage business to expand investment. The storm revealed the deep differences between Silicon Valley and Wall Street — Wall Street sees this as a classic case of excessive leverage. The founder of S3 Partners bluntly pointed out that this is a super-concentrated, overcrowded, and super-leveraged position. Barclays previously refused to accept it as a customer on the grounds that its exposure to the industry was too concentrated; Silicon Valley saw it as an opportunity to buy at bargain prices. A New York University professor explained that Silicon Valley rewards people who make the right decisions in the direction of transformative technology, while Wall Street rewards those who preserve capital while creating risk-adjusted returns.

14d ago

Sequoia Capital completes a new round of financing of $100 million to invest $2.5 billion in Anthropic

Comparatively, according to Bloomberg, Sequoia Capital has completed the latest round of financing amounting to $10 billion. As of now, the agency has returned a total of $5 billion in earnings to investors outside of SpaceX this year. Sequoia Capital's new co-leaders Alfred Lin and Pat Grady plan to invest $2.5 billion in AI company Anthropic, which will be the largest investment in Sequoia's 54-year history. Sequoia has always been biased towards OpenAI, xAI, etc., and did not invest in Anthropic for the first time until January 2025, but now it has decided to increase its holdings significantly, showing that it is aggressively betting on the AI field.

16d ago#financing

Almost sold $3.5 billion of Anthropic shares, Leopold withdrew the next morning

Comparative news, according to monitoring, when capital was at its peak, Leopold Aschenbrenner once agreed to sell shares of Anthropic worth about 3.5 billion US dollars. The buyer was an investor led by Greenoaks and Sequoia Capital. The deal was negotiated late Wednesday night and then withdrawn the next morning. The fund then sold most of its public shares and used the proceeds to repay the loans. Leopold eventually retained shares in unlisted companies such as Anthropic. In his letter to investors, he stated that the fund chose to sacrifice public stock positions to remove leverage and preserve private equity investments.

20d ago

Funds owned by AI Shares tried to sell shares in unlisted companies for additional security deposits this week

Comparative news, according to Bloomberg, Situational Awareness, an AI-themed hedge fund founded by Leopold Aschenbrenner, a 25-year-old Wall Street AI shareholder and former OpenAI researcher, tried to sell some of its shares in unlisted companies this week due to a rush to raise cash in response to successive additional security deposit notices issued by lenders. According to people familiar with the matter, the troubled hedge fund has contacted a number of venture capital institutions, including Sequoia Capital (Sequoia Capital) and Greenoaks, in the process of seeking to take over some of its holdings. Today, it was reported that Situational Awareness has been forced to cut meat to Citadel after its net worth fell by about 67% during the month, and is seeking new capital injections.

22d ago

Six major VCs, including Sequoia and a16z, signed MOU with Korea National Pension Fund to increase investment in strategic industries such as AI

Comparatively, according to Korean media Asiae, six leading Silicon Valley venture capital firms, Sequoia Capital, a16z, Khosla Ventures, Lightspeed Venture Partners, General Catalyst, and NEA, announced that they have signed a Memorandum of Strategic Investment Cooperation (MOU) with the Korea National Pension Fund (NPS) to jointly explore investment opportunities, share investment information, and strengthen the global venture capital layout. Continuing, the Korean government is speeding up the policy of attracting overseas venture capital, and has launched a “National Growth Fund” with a combined scale of 200 trillion won. The market expects the Korean venture capital sector to see simultaneous inflows of policy capital, private capital, and overseas capital, and strategic industries such as AI and semiconductors are expected to receive more investment. However, investment industry insiders warn that if a large amount of capital flows to a few popular companies, or pushes up corporate valuations and forms a bubble, future IPOs and M&A withdrawals may face valuation pullback pressure, affecting fund returns.

26d ago