Reuters reveals Sequoia China to cut up to 20 percent of investment staff as tech growth slows

Reuters reported exclusively that Sequoia Capital China, widely viewed as a bellwether for Chinese tech investment, is set to lay off as much as 20 percent of its investment staff as a slowdown in the country’s tech sector saps appetite for risk. The layoffs would come after a government campaign against debt financing left start-ups vying for shrinking pools of fresh capital. Meanwhile disappointing returns from firms going public amid market volatility has made investors bearish, resulting in down rounds – where a firm’s valuation in a round of fundraising falls below that of a previous round.