Sequoia Capital has approached investors with an offer to buy shares in Stripe at a $70 billion valuation, according to reports.
Sequoia, which first invested in payments giant Stripe 14 years ago, has emailed limited partners in funds raised between 2009 and 2012, offering to buy up to $861 million in shares at $27.51 per share, according to Axios.
The offer gives limited partners the chance to secure liquidity as Stripe continues to hold off on a long-touted IPO.
In February, Stripe struck a deal with investors to let employees cash out their shares in an offering that valued the payments firm at $65 billion.
The company saw its value at $50 billion at a funding round last March, down on the $95 billion it was tagged with in 2021.