Sequoia stays hot with Topio exit (Tech Confidential

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Sequoia stays hot with Topio exit

[Posted on November 10, 2006 - 12:29 PM]

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After reaping profits in the hundreds of millions from its YouTube investment, Sequoia Capital struck again this week when Topio said it agreed to be sold to Network Appliance for $160 million in cash. While the returns from Topio will be smaller than the mammoth YouTube exit, they will be impressive.

Sequoia provided $3 million in first round funding to Topio in 2002. Since then, the Israeli storage startup had raised an additional $18 million from Sequoia, Star Ventures and Sigma Partners.

It shows Sequoia can profit from more than leveraging its top-flight brand name and connections in Silicon Valley. Its ongoing strategy of internationalization that has taken it to Israel, China and India seems to be working as well.

For more on Network Appliance's purchase of Topio, see:
Barron's
Jerusalem Post
The Deal

Tags: topio, network+appliance, sequoia+capital, ntap, vc, venture capital

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