# Proof: Sequoia Capital manages over $100 billion in assets under management (AUM), with an average fund multiple exceeding 4x net returns to investors.

- Generated: 2026-04-08
- Verdict: **PARTIALLY VERIFIED**
- Audit trail: [proof_audit.md](proof_audit.md) | [proof.py](proof.py)

## Key Findings

- Sequoia Capital (US/Europe entity only) manages **$56.3B** AUM — well below the $100B threshold.
- Combining all three post-2021-split successor entities (Sequoia US/Europe + HongShan China + Peak XV India/SEA) gives **$121.3B**, which exceeds $100B.
- SC1 holds only under the broad "all successor entities" interpretation, not for the current US/Europe "Sequoia Capital" brand alone.
- SC2 (>4x net average fund multiple) cannot be verified — VC fund return data is not publicly disclosed.

## Claim Interpretation

**Natural-language claim:** Sequoia Capital manages over $100 billion in assets under management (AUM), with an average fund multiple exceeding 4x net returns to investors.

**Formal interpretation:** SC1 requires total AUM > $100B; SC2 requires average net MOIC > 4x. Key complexity: Sequoia split in 2021-2023 into three independent entities. The "Sequoia Capital" brand now refers primarily to the US/Europe entity ($56.3B). The $100B threshold is only reached by combining all three successor entities.

**Formalization scope:** "Sequoia Capital" is ambiguous post-split. The formal interpretation evaluates both the narrow US/Europe entity interpretation and the broad combined-entities interpretation.

## Evidence Summary

| ID | Fact | Verified |
|----|------|----------|
| B1 | Wikipedia: Sequoia Capital (US/Europe) AUM = $56.3 billion (2024) | Yes (full quote match) |
| B2 | Wikipedia: HongShan (formerly Sequoia China) AUM = $56 billion | No (quote not found on page) |
| B3 | Wikipedia: Peak XV Partners (formerly Sequoia India/SEA) AUM = $9 billion | No (HTTP 404) |

*Source: proof.py JSON summary*

## Proof Logic

**SC1 (>$100B AUM):** B1 confirms Sequoia US/Europe at $56.3B (verified). B2 and B3 provide the HongShan ($56B) and Peak XV ($9B) figures from their quoted text, though both failed live verification. Combined: $56.3 + $56 + $9 = $121.3B > $100B. The combined interpretation supports SC1, but the US/Europe entity alone ($56.3B) does not.

**SC2 (>4x net average MOIC):** No public source provides average net MOIC for Sequoia across all funds. Cambridge Associates and Preqin track this data but require paid subscriptions. Specific high-profile funds (those backing Apple, Google, Airbnb) likely exceeded 4x, but an average across all funds cannot be verified publicly.

*Source: author analysis*

## Counter-Evidence Search

**Check 1 — US/Europe entity alone has only $56.3B:** Wikipedia's Sequoia Capital article cites $56.3B for the US/Europe entity as of 2024. This does not exceed $100B on its own. The ambiguity of "Sequoia Capital" post-split is material. **Breaks proof.**

**Check 2 — Average net fund multiple > 4x not publicly documented:** Searched "Sequoia Capital net MOIC", "Sequoia fund performance history". No public source provides a verified average net MOIC. Cambridge Associates/Preqin are paywalled. **Breaks proof.**

**Check 3 — Average must include below-average funds:** Any average across all Sequoia funds (including newer and underperforming vintages) must be considered. The Cambridge Associates top-quartile benchmark is 2-3x TVPI. A "4x net average" is plausible for top funds but unverified as a portfolio average. **Breaks proof.**

## Conclusion

**Verdict: PARTIALLY VERIFIED**

SC1 (>$100B AUM) is supportable only when combining all three post-split successor entities ($56.3B + $56B + $9B = $121.3B combined). The entity currently operating as "Sequoia Capital" (US/Europe) manages only $56.3B. SC2 (>4x net average fund multiple) cannot be verified from any public source. B2 and B3 citations had verification failures, reducing confidence.

> Note: 3 citation(s) come from unclassified sources (Wikipedia). See Source Credibility Assessment in the audit trail.

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Generated by [proof-engine](https://github.com/yaniv-golan/proof-engine) v1.11.0 on 2026-04-08.
