According to Axios' first story, the company allegedly made the offer via an email sent to LPs this week.

We are considering a deal wherein new buyers—the Expansion Fund, Sequoia Capital Fund, Sequoia Heritage, and Sequoia Capital Global Equities—will agree to purchase up to $861 million worth of Stripe shares that are held in several Sequoia funds that were formed between 2009 and 2012.” This is what the email says.

Sequoia Capital says it has invested $157 million in total in the fintech, which is currently valued at $70 billion based on a fair market value (FMV) assessment this month (a 35% decrease from its previous $95 billion valuation three years ago, but a significant increase from its $50 billion valuation from last year after its $6.5 billion funding round). The share price is currently $27.51.

The email goes on to say that limited partners in these legacy funds "will have the option to hold or to sell all or a portion of their Stipe shares," with those who decide to sell standing to gain from no carried interest. The deal's receivers have until August 14th to decide what to do.

This most recent offer, which Sequoia Capital has not verified, is reminiscent to one that was made in February to Stripe workers who still had shares. That offering allowed the fintech to raise $694.2 million in April.

These events, along with the 2023 acquisition of software startup Okay, have stoked more rumors that Stripe is getting ready to go public on the stock exchange. Stripe has not yet verified the actual relocation, though.

Given that its most recent email to LPs emphasizes a recognition that "each of you has different goals for liquidity and portfolio management" while also stressing that the firm "remains highly optimistic about Stripe's future," it also represents Sequoia Capital's efforts to placate investors supporting some of its more established portfolio companies.