Sequoia Capital announced that it is splitting in three: "We will move to completely independent partnerships and become distinct firms with separate brands no later than March 31, 2024." The Sequoia China business will "adopt the name HongShan in English." The US/Europe venture capital business will continue to be known as Sequoia Capital. And the India/Southeast Asia business will become Peak XV Partners.
This is an intriguing approach that could set a pattern for other companies. Imagine if Apple, or Tesla, or General Motors, or JPMorgan Chase, split their China businesses off separately, allowing people who want to invest in China to do that, and allowing people who don't want to invest in China a chance to sell, or pass. Let the market put a price on the risk of operating in a Communist Party-run place without strong property rights or rule of law.