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New leaders, new fund: Sequoia has raised $7B to expand its AI bets

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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.

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CAF Confederation Cup: North African Powerhouses Stand Between Nigerian Clubs and Group Stage

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Nigeria’s path to the 2026/27 CAF Confederation Cup group stage has once again brought the country’s clubs face-to-face with the enduring power of North African football.

Shooting Stars have been handed a daunting second preliminary-round tie against three-time Confederation Cup winners CS Sfaxien of Tunisia, while El-Kanemi Warriors could face another North African heavyweight, Moroccan giants Raja Casablanca, if they overcome Benin Republic’s UDIB.

For the Nigerian representatives, the draw is a reminder of the enormous continental hurdle posed by clubs from Egypt, Morocco, Algeria and Tunisia.

A familiar continental problem for Nigeria

North Africa’s dominance of the Confederation Cup is difficult to ignore.

Since the competition was established in 2004, North African clubs have won 18 of the 23 completed editions, including the last four.

The region has produced multiple champions through CS Sfaxien, Raja Casablanca, Zamalek, RS Berkane, USM Alger, Al Ahly, Etoile du Sahel and other heavyweight clubs. CAF notes that the 2025/26 final between USM Alger and Zamalek was the ninth all-North African final, while five of the last eight finals had featured two clubs from the region.

Nigeria, by comparison, has never won the Confederation Cup.

The country’s best performance came in 2005, when Dolphins reached the final. CAF also records Nigeria as the country with the most different representatives in the competition , 24 since 2004 highlighting the gap between participation and conversion into continental success.

Shooting Stars face a proven continental force

Shooting Stars’ challenge is particularly significant.

CS Sfaxien are not merely another Tunisian opponent. They are the competition’s record three-time winners, having lifted the trophy in 2007, 2008 and 2013.

The Ibadan club must therefore negotiate a tie against one of the most experienced sides in Confederation Cup history before they can even think about the next qualifying hurdle.

And should Shooting Stars prevail, another West African tie against either Côte d’Ivoire’s AF Amadou Diallo or Sierra Leone’s East End Lions awaits.

El-Kanemi’s potential Raja obstacle

El-Kanemi Warriors have a seemingly more manageable first assignment against UDIB of Benin Republic.

But qualification would immediately bring a much bigger test.

Raja Casablanca, twice Confederation Cup champions, are waiting on the other side of the bracket.

The Moroccan giants have already demonstrated their ability to eliminate Nigerian opposition in this competition, beating Enyimba in the 2018 semi-finals before going on to win the title.

The recent record also underlines the scale of the problem.

Enyimba were drawn against Egyptian giants Zamalek and Al Masry in the 2024/25 Confederation Cup group stage and failed to record a win against either Egyptian opponent, eventually exiting in third place.

North Africa’s continental advantage

The problem extends beyond individual match-ups.

North African clubs have built a sustained ecosystem around continental football, combining stronger financial resources, deeper squads, greater continental experience and regular exposure to high-pressure CAF knockout football.

CAF’s wider Champions League history tells the same story, with the governing body describing Egypt, Morocco, Algeria and Tunisia as the countries whose clubs have particularly dominated the competition in the modern era.

For Shooting Stars and El-Kanemi, however, the immediate task is straightforward.

Shooting Stars must find a way past CS Sfaxien.

El-Kanemi must first eliminate UDIB, knowing that doing so could earn them a blockbuster showdown with Raja Casablanca.

For Nigerian clubs seeking a return to the group-stage elite, North Africa once again stands firmly in the way.

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Nigeria, Canada expand air deal, facilitate direct flights

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Nigeria and Canada have expanded their bilateral air transport framework, paving the way for scheduled direct air services between the two countries and creating new opportunities for passenger and cargo operations.

The agreement, signed on Thursday in Abuja, provides for multiple airlines from both countries to operate scheduled services and establishes capacity for passenger and cargo flights.

It also provides for up to 14 weekly passenger flights and 10 weekly all-cargo flights for designated airlines from each country.

The agreement is expected to improve air connectivity between Nigeria and Canada while supporting trade, tourism, education, investment and stronger people-to-people relations.

The Minister of Aviation and Aerospace Development, Festus Keyamo, was represented at the signing by the Director of Air Transport Management in the ministry, Mohammed Ahmed Tijjani.

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Mr Tijjani signed the agreement with Canada’s Chief Air Negotiator for Global Affairs Canada, Shendra Melia, at the Canadian High Commission in Abuja.

The signing followed a technical review session in which officials from both countries examined the existing bilateral air services framework and agreed to expand it.

Nigeria, Canada expand air deal, pave way for direct flights
Nigeria, Canada expand air deal, pave way for direct flights

Shift towards direct connectivity

The new arrangement represents a significant expansion of the aviation relationship between Nigeria and Canada.

The two countries first negotiated an air transport agreement in 2014, but the framework was initially limited to code-sharing arrangements rather than direct scheduled flights.

The agreement was formally signed in March 2025, providing a framework for airlines to market services operated by partner carriers.

The latest expansion changes that framework by allowing designated airlines from both countries to operate scheduled services directly between Nigeria and Canada.

The agreement, therefore, provides the legal basis for airlines to pursue direct operations, although the signing itself does not mean such flights will begin immediately.

Airlines would still need to be designated by their respective governments and meet applicable regulatory, operational and commercial requirements before commencing services.

More opportunities for passengers and cargo

For travellers, direct scheduled services could reduce the need for connecting flights through third countries and make journeys between Nigeria and Canada more convenient.

The development could be particularly significant for Nigerians travelling to Canada for education, business, tourism and family visits, as well as Canadians travelling to Nigeria for business and other purposes.

As of 31 March 2026, more than 25,000 Nigerians held valid Canadian study permits, according to the information provided by the Federal Government, highlighting the importance of the education link between the two countries.

The agreement also provides a greater scope for cargo operations.

Under the expanded framework, designated airlines can operate up to 10 weekly all-cargo services, while fifth-freedom traffic rights have been granted for cargo operations.

Fifth-freedom rights allow an airline to carry traffic between two foreign countries as part of a service that originates from or terminates in the airline’s home country.

The provision could create additional options for moving goods through the two countries and strengthen commercial links between Nigerian and Canadian businesses.

Wider economic ties

The expanded aviation agreement comes as Nigeria and Canada seek to deepen economic relations beyond air travel.

Improved connectivity can support tourism, facilitate business travel, encourage investment and make it easier for people and goods to move between the two markets.

The Nigerian delegation at the signing included the Director of Air Transport Management, Mr Tijjani; the Director of Legal Services, Jummai Yahaya; and the Director of Air Transport Regulation at the Nigeria Civil Aviation Authority, Olayinka Babaoye-Iriobe.

The Canadian delegation was led by Ms Melia and included officials from Global Affairs Canada and Transport Canada.

READ ALSO: FG approves New York, Dubai, Canada routes for United Nigeria Airlines — Keyamo

The expanded framework gives airlines from both countries greater room to compete, as each country can designate multiple carriers rather than restricting scheduled operations to a single airline.

For Nigeria, the development also fits into the Federal Government’s wider effort to expand international air connectivity and secure new routes that can support tourism, trade and investment.

The agreement now provides the framework for airlines on both sides to pursue direct scheduled services, potentially bringing an end to years of reliance on connecting routes for travellers moving between Nigeria and Canada.


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