Sequoia Jumps Into Token Plays With Investment in DeFi Project Parallel

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The round, which values the Polkadot-based protocol at $250 million, comes less than two weeks after Sequoia pledged to restructure its investing playbook to, in part, more aggressively court crypto plays. Fellow venture capital giant Andreessen Horowitz (a16z) did the same in 2019; it now raises multibillion-dollar funds exclusively for crypto.

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