However, during the past weeks, shareholders in a company portfolio have received information about a potential misconduct, requiring investigation. Given these events, we have decided to postpone the close date of the funds,” Sequoia had told its limited partners last month. “We will provide you with an update when our work is complete.”Algo Legal is a law firm founded by former Sequoia Capital general counsel Sandeep Kapoor. ET has seen the mail.The note comes soon after Sequoia-backed troubled fashion startup Zilingo fired its chief executive Ankiti Bose last month following a probe on alleged financial irregularities at the firm. Bose had told ET in an interview, after her removal from the company, that her termination is not the end of the ongoing saga at the Singapore-based Zilingo.

Source: Economic Times June 03, 2022 14:44 UTC