Sequoia Capital China’s Neil Shen and Softbank Vision Fund partner quit board roles at Qihoo 360
- Founded in 2005, Qihoo 360 is China’s largest provider of internet and mobile security products
Sequoia Capital China’s founding and managing partner Neil Shen Nanpeng and Chen Xun, managing partner at SoftBank Vision Fund, have both stepped down from Qihoo 360’s board of directors, citing personal reasons, according to a regulatory filing to the Shanghai Stock Exchange on Sunday.
Founded in 2005, Qihoo 360 is China’s largest provider of internet and mobile security products, and describes itself as bringing together the largest ‘white hat army’ in the eastern hemisphere to solve cyber vulnerabilities and online loopholes.
Shen is arguably the most powerful venture capital investor in China’s tech industry, and the Yale graduate was named No. 1 on the 2020 Forbes Midas List of the world’s best venture capital investors, taking the accolade for the third consecutive year.
Sequoia Capital China is a venture capital firm based in Beijing, which seeks to invest in the agriculture, distribution, B2B, education, retail, energy, financial services, health care and technology sectors – primarily via Chinese companies. It operates as a subsidiary of Menlo Park, California-based Sequoia Capital.
Some of Sequoia’s most high-profile bets include China’s e-commerce giants Alibaba Group Holding and JD.com, short video giants ByteDance and Kuaishou, one-stop online services provider Meituan Dianping, Shenzhen-based drone maker DJI and ride-hailing platform Didi Chuxing.
Sequoia Capital China did not respond to a request for comment. SoftBank declined to comment on the resignation of its managing partner from Qihoo’s board.
