Sequoia Capital pockets around $230 Mn via partial exit from Pine Labs

Pine Labs has emerged as one of the best bets by Sequoia Capital in the business to business or B2B space. This is established by Sequoia’s back to back partial exits from the company worth over $455 million in the past few years. In the latest deal, Sequoia has offloaded 92,023 ordinary and 512,232 preference shares in Pine Labs to seven investors in a secondary transaction during July 2021.