Sequoia Capital released a long article saying that Sequoia Capital's exposure to FTX is limited. "We own FTX.com and FTX US in one private fund, Global Growth Fund II. FTX is not a top ten position in the fund, and our $150M cost basis accounts for less than 3% of the committed capital of the fund. The $150M loss is offset by ~$7.5B in realized and unrealized gains in the same fund, so the fund remains in good shape."
In addition Sequoia Capital emphasized that "At the time of our investment in FTX, we rana rigorous diligence process. In 2021, the year of our investment, FTX generated approximately $1B in revenue and more than $250M in operating income, as was made public in August 2022."