Sequoia Capital has registered with the SEC as an investment company and enters the blockchain business of Korean group SK

According to the official website of the United States Securities and Exchange Commission (SEC), Silicon Valley venture capital giant Sequoia Capital has registered with the SEC as a registered investment advisory (RIA) firm to expand the scope of the business, and the SEC agreed.

Sequoia's decision to change its governing body from its original investment to support early Silicon Valley startups outlines the California-based company's plans to expand its investment strategy, the Wall Street Journal reported.

Broaden your investment horizons

In a request to the SEC on November 30, Sequoia described the company's business as follows: Detailed commentary.

In its SEC filing, Sequoia Capital outlines the company's current strategy, which invests primarily in entry-level, start-up and growth companies in the industry, such as industrials and electronics. consumer, financial services and energy.

Sequoia Capital also said in the document that it will complete some of the ventures that investment firms are not normally involved in, such as acquiring market capitalization and cryptocurrency assets. The company also mentioned the ability to support Special Corporate Mission Acquisition (SPAC).

The new version of Sequoia Capital was approved by the SEC and went into effect on January 3 of this year. This reversal of events will only apply to Sequoia Capital's US and European operations and will reduce compliance with investment firm obligations when investment advisers are registered. There are many SEC rules that must be followed, while most venture capital firms do not need to register.

Founded in 1972, Sequoia Capital had $ 80.7 billion in assets under management as of September 30, 2021, according to SEC data. SEC regulations require companies to register as investment advisers if less than 80% of their assets are eligible.

According to previous reports, Sequoia Capital first announced in October last year that it would abandon its existing business model and restructure its capital to form the Sequoia Fund, and the industry's growth would not stop. . Become a registered investment advisor to increase your investment in new assets such as cryptocurrencies, investment strategies and more.

SK Group advances in the field of blockchain

In addition, SK Hynix, SK Telecom and SK Square announced on the 8th that they plan to increase $ 1 trillion in earnings through the merger of SK ICT Alliance, a joint venture of SK Group, we are the largest organization in Korea. from South. Won has won joint ventures in various fields including semiconductor, semiconductor, metaverse, and blockchain.

According to a press release from SK hynix, SK hynix, SK Telecom and SK Square plan to generate foreign investment this year to attract various financial investors from countries to develop and invest more than 1 trillion won. Detailed discussions are underway with key trading partners around the world.

According to media reports, with this investment, our company will actively invest in companies with new technologies such as intelligence, metaverse, blockchain and semiconductors. We are building a profitable business by integrating companies in the ICT industry and finding unicorns that will transform the industry.

As previously reported, SK Group Chairman and CEO Huh Seok-joon spoke about the business needs of the company in November last year, stressing that the group's next goal is the metaverse and that he is not behind its young and agile competitors. It will be turned into a metaverse, a new consumer connection will switch from a cell phone to a metaverse, and it will be announced that the company's platform will also use the new tokens for the industry.