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Sequoia Capital Part II (with Doug Leone)
Acquired
Sequoia Fund Seven, a Fantastic Fund?
In 2000, Sequoia Capital was in trouble because it owed more than its net worth. It had raised the growth fund for 165 million that we didn't know what to do with. We borrowed a line from golf and I don't play golf called mulligan. Most of the venture industry considers the funds that they're pericold the mulligan funds. They lost money. But you know what? It's a do over. No one was going to lose money at Sequoia capital.
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