Sequoia and Paradigm’s $1.15 Billion Minority Investment in Citadel Securities

Cleary Gottlieb Steen & Hamilton represented Sequoia and Paradigm in the transaction.

Sequoia and Paradigm executed their $1.15 billion minority investment in Citadel Securities, a leading global market maker.

Sequoia led the round, with the investment coming from Sequoia Heritage, Sequoia Capital Global Equities and the Global Growth Fund. Sequoia Partner Alfred Lin will join the Citadel Securities Board of Directors.

Citadel Securities is a leading global market maker, delivering a broad array of equity and fixed income products to central banks, financial institutions, government agencies, corporations, insurers and sovereign wealth funds.

Sequoia helps daring founders build legendary companies from idea to IPO and beyond. They aim to be the first true believers in tomorrow’s most valuable and enduring businesses. 

Paradigm is an investment firm focused on supporting the great crypto/Web3 companies and protocols of tomorrow. Their approach is flexible, long-term, multi-stage, and global. 

The Cleary corporate team advising Sequoia on the investment was led by partners Paul Shim (Picture) and John Kupiec, associates Nimat Lawal, Matt Kelleher and Julie Bontems, and law clerk Yuan He. Partner Meyer Fedida and associate Anthony Yanez provided tax advice. Partner Robin Bergen, counsel Carl Emigholz and associate Ben Rosenblum advised on regulatory matters. Partner Amy Shapiro and associate Yoni Hassin provided debt finance advice. Partner Daniel Ilan and associate Lindsay Harris advised on IP matters.

Involved fees earner: Robin Bergen – Cleary Gottlieb Steen & Hamilton; Julie Bontems – Cleary Gottlieb Steen & Hamilton; Carl Emigholz – Cleary Gottlieb Steen & Hamilton; Meyer Fedida – Cleary Gottlieb Steen & Hamilton; Lindsay Harris – Cleary Gottlieb Steen & Hamilton; Yonatan Hassin – Cleary Gottlieb Steen & Hamilton; Daniel Ilan – Cleary Gottlieb Steen & Hamilton; Matthew Kelleher – Cleary Gottlieb Steen & Hamilton; John Kupiec – Cleary Gottlieb Steen & Hamilton; Nimat Lawal – Cleary Gottlieb Steen & Hamilton; Ben Rosenblum – Cleary Gottlieb Steen & Hamilton; Amy Shapiro – Cleary Gottlieb Steen & Hamilton; Paul Shim – Cleary Gottlieb Steen & Hamilton; Anthony Yanez – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Sequoia Capital Operations LLC;