Fund profile / United States

Sequoia Capital Expansion Fund

Geography: United States
Stage: Late Stage
Fund size: $7B
Focus: AI/ML, Enterprise Software and Robotics & Automation
Signals: Published

N°01 / About

About Sequoia Capital Expansion Fund

Sequoia Capital's largest-ever expansion fund at ~$7B, nearly doubling the $3.4B 2022 predecessor. Led by Alfred Lin and Pat Grady. Focuses on late-stage AI companies in the US and Europe, with major positions in OpenAI and Anthropic ahead of their anticipated 2026 IPOs.

N°02 / Thesis

Investment Focus

Location / RegionUnited States

Funding StageLate Stage

Industry Focus

AI/ML

Enterprise Software

Robotics & Automation

Investor Signals Profile

active

Sweet Spot

Late-stage AI founder in US/Europe, IPO-ready within 3 years

AI stack

late-stage growth

IPO-path only

US + Europe

outcome-based models

ASI-era companies

autonomous systems

trades/services software

open-model AI

inference hardware

drug-design scaling

cities-tech

security-infrastructure

enterprise diffusion

Bullish Signals

$7B closed, largest late-stage raise 2026blog

Owns OpenAI + Anthropic — IPO 2026blog

DPI possible within 24 monthsblog

Double fund size, no mandate driftblog

Active AGI/ASI thesis — new deals liveexternal

Agent-led growth as core betexternal

Open Source Fellowship — talent pipelineexternal

Formation Bio + Zipline — portfolio activetwitter

Fireworks AI — portfolio hire signaltwitter

Sequoia AI Ascent event live, $10T themetwitter

$1T retail AI opportunity flaggedwebsite

Jack Dorsey co-authors Sequoia essaywebsite

Cross-border fintech bet — Aspora spotlightwebsite

Arc PMF framework — founder-support signalwebsite

Zipline autonomous system: 140M miles zero incidentswebsite

Kalshi chaos-by-design market platformwebsite

Probook AI trades partnership — vertical expansionwebsite

2026 AGI year called by Pat Grady, Sonya Huangwebsite

ASI era thesis live, Stephanie Zhan videowebsite

Nevis AI wealth management highlightedwebsite

America's Open-Model Paradox — Buhler/Meyer analysiswebsite

Etched inference machine — hardware partnerwebsite

Chai Discovery scaling thesis — drug design AIwebsite

Preview AI partnership — content intelligencewebsite

Corma partnership — vertical expansion signalwebsite

Bunkerhill Health partnership — healthcare AIwebsite

Peregrine cities tech — Nick Noone & Ben Rudolphwebsite

Form Energy partnership — energy infrastructure scalewebsite

Cymphony security unlocks adoption partnershipwebsite

Empirik partnership — market insights expansionwebsite

Clay CEO-to-founder content series — Brian Halliganwebsite

Cognitive Revolution podcast — Konstantine Buhlerwebsite

Sequoia AI Ascent 2026 — major founder event livewebsite

Databricks Ali Ghodsi CEO profile — Brian Halliganwebsite

Box Aaron Levie AI reinvention podcast — Sonya Huangwebsite

Training Data podcast — enterprise diffusion focuswebsite

Own Your Own Intelligence video — AI agency themewebsite

Startup to Scaleup CEO content — Brian Halliganwebsite

Contrarian Signals

Returns hinge on 2 IPO eventsblog

No Asia exposure post-2023 splitblog

New leadership duo, first real testblog

Large partner bench — conviction dilution riskexternal

AI disrupts SaaS — existing bets at risktwitter

Education-era relevance questioned publiclywebsite

Founder Do's

Series C+ with real revenue

Clear IPO or exit path <3 years

Strong AI angle, defensible moat

US or European HQ

Customer-obsessed, adaptable team

Autonomous or agent-led product

Leverage open-model AI paradigm shift

Security-first adoption strategy

Founder Don'ts

Pre-Series C — wrong fund

SaaS without AI angle

Asia-based company

70 signals on Sequoia Capital Expansion Fund

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Facts

Fund Overview

Fund Size$7B

Saves0

Website

People

Key People

Alfred Lin, Pat Grady

Alfred LinManaging Partner

Pat GradyManaging Partner

Sonya HuangPartner

Julien BekPartner

Roelof BothaManaging Partner

Stephanie ZhanPartner

Konstantine BuhlerPartner

Luciana LixandruPartner

Bogomil BalkanskyPartner

Anne Marie BoidockPartner

Brian HalliganPartner

Abhishek MalaniPartner

Dean MeyerPartner

David CahnPartner

Isaiah BoonePartner

N°04 / See also

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