> Generally hedge funds are private investments.
I take your point that HFs come in many flavors. And, "private investments" is ambiguous.
Though, in "general", the parent is right to say the claim (above) is not accurate. I think of HFs as "generally" playing with securitized, public assets, regardless of investment mandate.
Sequoiacap.com
Sequoiafund.com
https://www.sequoiacap.com/people/roelof-botha/
Maybe this is clearer.
https://www.axios.com/sequoia-capital-fund-venture-capital-m...
https://www.sequoiafund.com/home -> is run by people who have nothing to do with Sequouia Venture Capital or the newly minted "The Sequoia Fund". As you can see this is a mutual fund that invests in public equities: https://www.sequoiafund.com/Performance
EDIT: here it is: https://fundresearch.fidelity.com/mutual-funds/summary/81741...
Indeed, I don't see this as a hedge fund, a limited partnership of investors that uses high risk methods, such as investing with borrowed money, in hopes of realizing large capital gains. Generally hedge funds are private investments. Sequoia Fund is an open-ended liquid portfolio made up of public positions in a selection of our enduring companies. They even calls themselves a mutual fund.
Mutual, not hedge.