Sequoia apologized to investors for its $150 million loss on FTX and vowed to improve its due diligence, people familiar with the matter said
has placed Sequoia Capital in an unfamiliar position: damage control mode.
The early backer of Apple Inc., Alphabet Inc.’s Google, and Airbnb Inc. —and one of Silicon Valley’s most successful venture-capital firms—apologized to its fund investors in a conference call Tuesday for its $150 million loss on the crypto exchange FTX and vowed to improve its due diligence process for future investments, said people familiar with the matter.
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