Amid all the crises venture capitalists are facing, there’s one that deserves more attention and it centers on a number: $8 billion.
That's roughly the amount of money investors like Sequoia, Susquehanna International Group, Coatue Management and Tiger Global Management have poured into TikTok owner ByteDance—money that is largely locked up at the moment. As of now, no initial public offering is remotely possible for the company as regulators in the U.S. and China are tightening the screws on it. And so some of the tech world’s most famous investors face utter uncertainty about how their once shrewd-looking gamble on a once-in-a-generation internet media behemoth will play out. (For a refresher on the relative stakes held by the largest investors, check out our past reporting here.)
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