For purposes of this brochure, the “Adviser” means Sequoia Capital Operations, LLC, a Delaware limited liability company, together (where the context permits) with its affiliated general partners of the Funds (as defined below) (and, together with the family of related entities operating under the Sequoia Capital name and mark, “Sequoia Capital”). The Adviser provides investment supervisory services to investment vehicles (the “Funds”) that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). The Funds include an open-ended Fund, the Sequoia Capital Fund, which holds positions in portfolio investments that have gone public and is expected to operate in perpetuity until dissolved. Additionally, the Adviser continues to provide investment supervisory services to closed-end Funds which focus primarily on making venture capital investments at the seed, early, and growth stages of companies. The Adviser expects to organize its closed-end venture capital vehicles established after the date of the Brochure as underlying investment vehicles, or subsidiary vehicles, of the Sequoia Capital Fund. References herein to “Funds” refer to such subsidiary vehicles, as applicable. In accordance with the Funds’ respective investment objectives, investments are generally made in companies doing business across multiple sectors, including business technology, consumer technology, healthcare, financial services, energy and others.

The Adviser’s advisory services consist of investigating, identifying and evaluating investment opportunities, structuring, negotiating and making investments on behalf of the Funds, managing and monitoring the performance of such investments and disposing of such investments when the Adviser deems appropriate. The Adviser may serve as the investment adviser or general partner to the Funds in order to provide such services. The Adviser provides investment supervisory services to each Fund in accordance with the limited partnership agreement (or analogous organizational document) of such Fund or separate investment and advisory, investment management or portfolio management agreements (each, an “Advisory Agreement”). Investment advice is provided directly to the Funds, subject to the discretion and control of the applicable general partner, and not individually to the investors in the Funds. Services are provided to the Funds in accordance with the Advisory Agreements with the Funds and/or organizational documents of the applicable Fund. Investment restrictions for the Funds, if any, are generally established in the organizational or offering documents of the applicable Fund and Advisory Agreements negotiated with investors in the applicable Fund (such documents collectively, a Fund’s “Organizational Documents”). The Adviser has no principal owners (i.e., owners of more than 25%). The Adviser has been in business since 1972. As of December 31, 2023, the Adviser manages a total of $56,310,737,031 of client assets, all of which is managed on a discretionary basis.