Sequoia China Affiliate SCEP Applies for QFII Status

What’s new: Sequoia China’s public market fund affiliate is seeking to expand its access to the Chinese mainland by applying for the Qualified Foreign Institutional Investor (QFII) program.

The China Securities Regulatory Commission is reviewing the application from Sequoia China Equity Partners, also known as SCEP, the authority’s website showed Monday.

Set up in 2005, Sequoia China’s venture capital investments have since backed some of the country’s most high-profile companies, including TikTok owner ByteDance Ltd., local services platform Meituan, ride-hailing titan Didi Global Inc., as well as e-commerce giants JD.com Inc. and Alibaba Group Holding Ltd.