Sequoia tells investors it is marking down its FTX investment, totaling $213.5M across two funds, to zero dollars, saying it “ran a rigorous diligence process” (Dan Primack/Axios)

Berber Jin / Wall Street Journal:
Sources: Sequoia apologized to its fund investors for the $150M it lost on FTX and told them it would improve its due diligence process on future investments  —  Venture-capital firm tells fund investors that it will improve due diligence on future investments after $150 million loss on crypto exchange

Dan Primack / Axios:
Source: Tiger Global seeks to raise $6B for its next fund that invests in privately held tech companies, less than half of what it raised for its prior fund  —  Tiger Global is seeking to raise $6 billion for its next fund that invests in privately-held tech companies, according to an investor letter viewed by Axios.

Kate Clark / The Information:
SBF quietly invested $500M+ in Paradigm, Altimeter, and other VCs, including, sources say a $200M commitment to Sequoia, and $300M to K5 per PitchBook  —  FTX founder Sam Bankman-Fried was not only a tireless fundraiser from venture capital firms including Paradigm and Sequoia Capital …

Dan Primack / Axios:
Source: a holding company created by merging PrismHR and Vensure acquires HR startup Namely, which raised $200M+ from Sequoia and others  —  Three providers of human resources software and services have become one, Axios has learned. … – Both PrismHR and VES are backed by private equity firm Stone Point Capital.

Dan Primack / Axios:
Sources: some Twitter investors were told Elon Musk would step down after three to six months and are divided on his decisions; a new CEO would report to Musk  —  Twitter’s investors have divided into two camps: copacetic and apoplectic. … But investors were told that a transition …

Dan Primack / Axios:
Sources: some Twitter investors were told Elon Musk would step down after three to six months and are divided on his decisions; a new CEO would report to Musk  —  Twitter’s investors have divided into two camps: copacetic and apoplectic. … But investors were told that a transition …