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Venture capital firm Sequoia Capital has informed investors it has not been affected by the FTX collapse, although it has acknowledged it has zeroed out investments in the exchange.

In a letter sent to limited partners, the firm has said the impact of the incident on its business is negligible and that losses have been offset by billions of dollars in gains.

Sequoia has clarified it has invested $150 million in FTX.com and FTX.US through the Global Growth III fund, representing 3% of the structure's portfolio. The position was not in the top 10 in terms of volume.

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According to the announcement:

"Losses of $150 million are offset by approximately $7.5 billion of realized and unrealized gains in the same fund, so it remains in good shape."

The SCGE fund made separate investments in FTX in the amount of $63.5 million, which, as of September 30, represented less than 1% of its portfolio.

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