Few venture firms have bet more aggressively on AI than Sequoia Capital, and it isn’t slowing down.
The Silicon Valley stalwart has raised roughly $7 billion for a new fund, according to Bloomberg. Sequoia declined TechCrunch’s request for comment. The money will go toward what the firm calls its “expansion strategy” — essentially its late-stage investing arm, focused on the U.S. and Europe — and it’s nearly double Sequoia’s last comparable fund, a $3.4 billion vehicle raised in 2022.
That growth in fund size reflects something bigger: late-stage investing has taken on an entirely new meaning in the AI era. Companies can now scale at a speed and cost that would have been unimaginable a decade ago, and the firms backing them have to keep pace.
The money signals where Sequoia sees the future: deeply embedded in AI, from the giants building the underlying technology to the startups putting it to work. The firm has backed two of the most prominent players in the AI race — OpenAI originally and, more recently, Anthropic — both of which are reportedly eyeing public listings in 2026. The development that could mean a significant payday for the firm.
Sequoia isn’t only swinging for the foundational AI heavyweights, however. It has also placed bets on other buzzy startups, including Physical Intelligence, the Bay Area robotics startup, and Factory, which builds AI agents for enterprise engineering teams.
The fundraise is also the first major capital raise under Sequoia’s new leadership, with Alfred Lin and Pat Grady now serving as co-stewards of the 54-year-old firm.
Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Timi Frank, has called on President Bola Ahmed Tinubu to withdraw from the 2027 presidential election following the protest that greeted him at a mosque in Abuja.
Frank said the incident at the Shehu Shagari Central Mosque in Area 1, Garki, Abuja, should serve as a warning to the President about the level of dissatisfaction among some Nigerians over his administration.
He urged Tinubu to reconsider his second-term ambition rather than proceed with the election despite what he described as growing public opposition to his government.
The former APC chieftain also advised the President to ensure that the 2027 general election is free, fair and credible, insisting that Nigerians should be allowed to determine who leads the country through their votes.
Videos from the incident showed some individuals booing the President and chanting “Ba ma yi”, a Hausa expression meaning “we don’t want you”, as his convoy prepared to leave the premises.
Crowd Shouts ‘Bamayi’ at Tinubu, Throws Stones at His Convoy in Abuja
The protest attracted attention after footage circulated on social media.
There were also reports of individuals removing and destroying campaign posters and billboards bearing Tinubu’s image in parts of the Area 1 neighbourhood.
Nonetheless, while condemning the decision to express political grievances during a religious gathering, Frank acknowledged the efforts of the President’s security team in protecting him and preventing the situation from escalating.
However, he maintained that the reaction from some worshippers should not be ignored or dismissed as an isolated incident.
According to him, the President needs to understand the political situation in the country and pay attention to the feelings of ordinary Nigerians rather than depend entirely on assurances from political associates.
“The rejection was total and unmistakable. No Nigerian president has been embarrassed like this publicly. The way Nigerians rejected him speaks volumes. But should he decide to go ahead and he loses, he should be prepared to accept defeat just like former President Goodluck Jonathan did,” Frank said.
He further questioned the level of support Tinubu reportedly enjoys in the Federal Capital Territory, arguing that the incident at the mosque raised questions about claims made by some political figures concerning the President’s popularity in Abuja.
Frank suggested that there was a difference between the assurances political associates gave Tinubu and the political realities outside government circles.
He warned that some individuals around the President might be giving him an inaccurate picture of public opinion because of their personal interests.
“I am giving him this advice because I genuinely want him to listen to the truth. Those around him may not be telling him that he has become very unpopular and that continuing in the presidential race may be a difficult undertaking,” he said.
The former APC spokesman maintained that Tinubu should seriously consider stepping aside from the 2027 contest instead of allowing political pressure from his associates to determine his decision.
Frank also questioned the confidence expressed by some political leaders about their ability to deliver substantial votes for the President in the next election.
Nyesom Wike
He specifically mentioned FCT Minister Nyesom Wike and Edo State Governor Monday Okpebholo, questioning whether the electoral figures reportedly promised by political allies would reflect the actual choices of voters.
He argued that promises to secure 80 per cent of the votes in Abuja and 2.5 million votes in Edo State should not be taken as a guarantee of electoral victory.
According to him, political leaders should understand that making promises on behalf of voters is different from securing their support at the polling units.
Frank also referred to reactions witnessed in Abuja and Jos following political activities involving the ruling party.
He argued that such developments should encourage Tinubu to reassess the level of support his administration commands.
He further alleged that some individuals within the APC and the President’s political circle were more concerned about personal financial benefits than providing honest assessments of the government’s performance.
The former party official also brought opposition figures, including former Vice-President Atiku Abubakar and former Anambra State Governor Peter Obi, into the discussion.
He claimed that the reception given to the opposition leaders during their public appearances showed that Nigerians were increasingly interested in alternative political options ahead of the next general election.
Frank argued that the crowds received by the opposition figures were an indication that political support could not always be measured through organised rallies and the number of people mobilised by political parties.
“Wherever these opposition leaders go, Nigerians come out in large numbers to receive them without being induced with rice or money. Their reception should tell the President something about the mood of the country,” he said.
He maintained that the Tinubu administration should take public reactions seriously, particularly as political activities ahead of the 2027 elections continue to gather momentum.
Frank also linked the dissatisfaction he alleged to the economic difficulties confronting Nigerians.
He mentioned rising food prices, hunger, unemployment, insecurity and the increasing cost of living as some of the challenges affecting households across the country.
According to him, the difficulties experienced by ordinary citizens have contributed to the criticism directed at the Federal Government.
He argued that the administration needed to pay greater attention to the economic situation and the concerns of Nigerians instead of relying on political endorsements as evidence of public acceptance.
“If the President had performed well, there would be no need for the desperation we are witnessing today,” he said.
Frank also questioned the sincerity of some political endorsements received by Tinubu, alleging that certain expressions of support were driven by expectations of financial rewards and personal benefits.
He urged the President to identify those genuinely interested in the country’s progress and distinguish them from individuals whose political positions were influenced by their personal interests.
File: Election in Nigeria
Beyond his criticism of the administration, Frank warned against any attempt to manipulate the 2027 general election or undermine the wishes of voters.
He insisted that the credibility of the election would be more important than the political ambitions of any individual or party.
“Nigerians will not accept a situation in which someone is declared the winner when the people know they did not vote for him. They should not push the country into a crisis by attempting to impose him on the people,” he warned.
He called on Tinubu to respect the democratic process and ensure that the electoral authorities are allowed to conduct an election in which every vote counts.
The former APC spokesman further argued that the President could still secure a positive place in Nigeria’s political history if he chose to put the country’s democratic interests above his personal ambition.
“President Tinubu still has an opportunity to make history and have his name written in gold. He can achieve this by ensuring that the country conducts a free, fair and credible election,” he said.
Frank maintained that a transparent electoral process would allow Nigerians to freely choose their preferred candidate without intimidation, manipulation or interference.
He also stressed that the next presidential election should not become a source of political instability, warning that attempts to impose a candidate against the wishes of voters could generate serious consequences for the country.
Former President Olusegun Obasanjo has told Nigerian youths not to allow politicians to use them to cause division in the country.
Obasanjo gave the advice on Saturday shortly after he was honoured with an honorary doctorate degree by Skyline University of Nigeria in Kano.
Speaking through a recorded video message, the former president said young people must refuse any campaign built on hate, segregation, discrimination and marginalisation, no matter who is behind it.
He said youths should not sit down and wait for change, but must fight for the kind of future they want for themselves.
According to him, young Nigerians must be positively disruptive, and must be ready to shake the system in a good way to bring real development.
Obasanjo reminded them that Nigeria was built by young leaders in the past, and he mentioned the likes of Aminu Kano and Anthony Enahoro, who stood up early to serve the country.
He said age, tribe or religion should not stop any youth from making impact, adding that the future of Nigeria is in the hands of the young generation.
"Don't let politicians divide you. You must reject campaigns capable of promoting division, segregation, discrimination and marginalisation, regardless of their ethnic, religious or age differences," he said.
The former president received the honour alongside former Executive Secretary of the National Universities Commission, Prof. Abubakar Adamu-Rasheed, and Mrs. Vadana Luthra.