The largest VC fund in Silicon Valley's history has raised a whopping $6 billion to take on global competitors

• Sequoia Capital has raised $6 billion, the Financial Times reports.
• The firm has plans to raise $2 billion more.
• The firm's $6 billion global-focused fund is the largest in Silicon Valley's history.

For months, prominent Silicon Valley-based venture firm Sequoia Capital has been quietly amassing a multi-billion dollar fortune to take on global competitors - primarily, the Japanese funding conglomerate Softbank.

Now, the Financial Times reports that Sequoia has closed its first fundraising efforts for its new fund at $6 billion and has plans to take in $2 billion more in upcoming months.

The fund is the largest raise in Silicon Valley's history, and nearly four times the size of the firm's previous fund.

It's been widely reported that the money will be used to fund emerging companies with multi-million dollar investments worldwide.

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