Sequoia Capital Offers to Buy Stripe Shares from Investors

• Sequoia Capital is providing its investors an opportunity to cash out of Stripe, a payments giant it backed nearly 14 years ago.
• The offer targets LPs in funds raised between 2009 and 2012, with Sequoia proposing to buy up to $861 million of Stripe shares.
• The purchase price is set at $27.51 per share, reflecting Stripe's most recent 409A valuation of $70 billion.
• LPs have until August 14 to decide, with no carried interest fees and no profit for Sequoia partners unless they have personal investments.
• This move shows Sequoia's faith in Stripe's future while addressing investor liquidity needs, potentially setting a precedent for other portfolio companies.

Attached Sequoia’s Letter to LPs below👇🏼

Source: Axios