Sequoia’s $750M Hedge Fund

Sequoia Capital may be looking to raise $750 million for its first hedge fund, according to a knowledgeable source in the hedge fund industry.

The firm has been looking to hire investors with hedge fund backgrounds since late fall 2007 the source says.

No word yet on where the money for the new fund will come from, but some large part of it may already be raised from both the Sequoia general partners and from limited partners, the source says.

India too?
A different person, familiar with Sequoia’s India operations, says that the firm has been trying to hire public equity investors for India for some time. The firm may be looking to invest in public Indian companies from its existing funds rather than by raising a separate fund, at least at first, the source says.

More developments in this story as we get them.

Michael Moritz declined to comment.