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

## Verdict

**Verdict: PARTIALLY VERIFIED**

The $100B AUM figure holds only when combining all three post-split Sequoia successor entities. The 4x net fund multiple claim has no public evidence.

## What Was Claimed?

The claim states that Sequoia Capital manages over $100 billion in assets under management and that its average fund multiple exceeds 4x net returns to investors. Both assertions require careful unpacking — "Sequoia Capital" is no longer a single entity, and VC fund return data is not publicly disclosed.

## What Did We Find?

On the AUM question, the complication is a corporate split. In 2021 and the years that followed, the original Sequoia Capital reorganized into three independent entities: Sequoia Capital US/Europe, HongShan (formerly Sequoia China), and Peak XV Partners (formerly Sequoia India/Southeast Asia). The entity currently operating under the "Sequoia Capital" name — the US/Europe firm — had approximately $56.3 billion AUM as of 2024 according to Wikipedia. That figure is well under $100 billion.

The $100 billion threshold is only crossed when you add together all three successor organizations: $56.3B + $56B (HongShan) + $9B (Peak XV) = $121.3B combined. Whether the claim intends the current US/Europe entity or the combined successors is ambiguous — and that ambiguity is material.

On the fund multiple question: there is no public data. Sequoia is widely regarded as one of the best-performing VC firms, with legendary early investments in Apple, Google, Cisco, WhatsApp, Zoom, and Airbnb. But "best-performing" is not the same as "verified 4x net average." VC fund returns are not publicly disclosed; Cambridge Associates and Preqin maintain this data behind paid subscriptions.

## What Should You Keep In Mind?

SC1 holds only under the generous combined-entities interpretation ($121.3B). The current US/Europe "Sequoia Capital" entity manages $56.3B — well below $100B. SC2 (>4x net average) is unverifiable from public sources and cannot be confirmed or denied. The Cambridge Associates top-quartile benchmark for VC is typically 2-3x net; 4x would require consistent performance at twice that level.

## How Was This Verified?

This claim was analyzed using the Proof Engine's compound claim methodology. Wikipedia sources were fetched and quotes verified; two of three citations had verification failures. See [the structured proof report](proof.md), [the full verification audit](proof_audit.md), and [re-run the proof yourself](proof.py).
