Sequoia Capital Gains from Stripe's Bridge Acquisition

Sequoia Capital is set to gain over $100 million from Stripe's $1.1 billion acquisition of Bridge, a stablecoin payment platform in which it holds a 16% stake, following a $19 million Series A investment just a year ago. This acquisition, finalized on October 20, marks one of the largest in the crypto industry and highlights the growing interest in stablecoin solutions as alternatives to traditional payment systems like credit cards and SWIFT. Alongside Sequoia, other venture capital firms such as Ribbit Capital, Haun Ventures, Index Ventures, and Bedrock Fund Management are also positioned to reap significant returns from their investments in Bridge. The rapid gain in returns comes amid a slowdown in venture funding for crypto since its peak in 2022. Stripe’s commitment to integrating stablecoins into its infrastructure reflects a strategic move to enhance digital payment options. However, the acquisition is still pending regulatory approval, which could take several months.