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# Sequoia Funds Lock Up 18.6 Million Instacart Shares Behind DoorDash's Takeover
- URL: https://www.bullished.co/sequoia-funds-lock-up-18-6-million-instacart-shares-behind-doordashs-takeover-f460d275/
- Published: 2026-10-30T23:45:58.000Z
- Updated: 2026-10-30T23:45:58.000Z
- Description: Six Sequoia entities agreed to vote for the merger and not to transfer shares until stockholders adopt it or the agreement ends.
- Author: Matteo Parrino
- Tags: SEC Filings, CART, Industry: Technology, Topic: Ownership & Activism

Sequoia-affiliated funds that may be deemed to hold [18,596,961 shares](https://www.sec.gov/Archives/edgar/data/0001607841/000119312526442148/xslSCHEDULE%5F13D%5FX01/primary%5Fdoc.xml?ref=bullished.co) of [Maplebear](https://www.bullished.co/tag/cart/), about 7.9% of the company, have committed to vote them for DoorDash's takeover of the Instacart operator, according to an ownership amendment filed Friday by SC US (TTGP).

## A voting pledge and a transfer lockup

Six Sequoia entities signed a voting and support agreement with DoorDash at the same time Maplebear signed its merger agreement on October 28\. They are SC GGF III, SC US/E Expansion Fund I, SC US/E Expansion Fund I MGMT, SCGGF III - U.S./India Management, SCFP and SCF. They agreed to vote all the Maplebear shares they beneficially own in favor of adopting the merger agreement, and on certain other matters the agreement covers.

They also agreed not to transfer the shares, or enter certain other transactions in them, until stockholders adopt the merger or the voting agreement terminates, with exceptions. That lockup ends with the stockholder vote.

The filing says the reporting persons made no trades in the stock in the past 60 days. It is Amendment No. 10 to a Sequoia ownership filing first made on February 27, 2024.

## Who holds what

SC US (TTGP), the general partner of four of the Sequoia management entities, carries the [combined 7.9% stake](https://www.sec.gov/Archives/edgar/data/0001607841/000119312526442148/xslSCHEDULE%5F13D%5FX01/primary%5Fdoc.xml?ref=bullished.co), calculated on 236,498,351 shares outstanding as of October 23, 2026\. Sequoia Capital Fund Management accounts for 13,877,724 shares, or about 5.9%, and SCF alone holds 12,114,227, about 5.1%. The other holders each sit at 1.3% or less.

The filing says the reporting persons may be deemed a group, and that each disclaims ownership of shares beyond what it actually has voting or dispositive power over.

## The $17 billion deal behind it

DoorDash agreed to buy Maplebear, which does business as Instacart and makes technology for grocery ordering, delivery and pickup, for [$65.00 per share](https://www.businesswire.com/news/home/20261029560802/en/DoorDash-to-Acquire-Instacart-to-Help-Local-Stores-Win?ref=bullished.co). The price values the company at about $17 billion, and at least 75% of the consideration is cash. The companies say it is a 26% premium to Instacart's October 22 closing price, and the board approved it unanimously.

Instacart separately [suspended its guidance](https://www.prnewswire.com/news-releases/instacart-announces-third-quarter-2026-financial-results-302923609.html?ref=bullished.co) and cancelled its earnings call because of the pending deal. Its market value was $13.5 billion in Friday's report.

The Maplebear stockholder vote on adopting the merger agreement is the event that frees Sequoia's shares from the lockup.

Learn

- [13D Filing Requirements And Deadline, Shown With Real Filings →](https://www.bullished.co/learn/13d-filing-requirements/)  
A Schedule 13D is required when you own more than 5% of a public company's voting shares. See the deadline, contents and real filings from this week.
- [13D Vs 13G: What Each 5% Stake Filing Means And How To Read One →](https://www.bullished.co/learn/13d-vs-13g/)  
13D vs 13G: both report stakes above 5%, but 13G is the short passive form and 13D explains intent. See real BlackRock and Pictet filings read in plain English.

### Sources

- [SCHEDULE 13D/A — SC US (TTGP), LTD. ("SC US (TTGP)") re: Maplebear Inc. (CART)](https://www.sec.gov/Archives/edgar/data/0001607841/000119312526442148/xslSCHEDULE%5F13D%5FX01/primary%5Fdoc.xml?ref=bullished.co) — SEC EDGAR
- [DoorDash to Acquire Instacart to Help Local Stores Win](https://www.businesswire.com/news/home/20261029560802/en/DoorDash-to-Acquire-Instacart-to-Help-Local-Stores-Win?ref=bullished.co) — businesswire.com
- [Instacart Announces Third Quarter 2026 Financial Results](https://www.prnewswire.com/news-releases/instacart-announces-third-quarter-2026-financial-results-302923609.html?ref=bullished.co) — prnewswire.com

### More on Instacart (Maplebear)

- [Instacart Tells Staff Its $17 Billion DoorDash Deal Won't Close Until 2027 Or 2028](https://www.bullished.co/instacart-tells-staff-its-17-billion-doordash-deal-wont-close-until-2027-or-2028-35e120f2/)
- [Instacart Owes DoorDash $650 Million If It Takes A Better Bid; DoorDash Owes $1.25 Billion If Regulators Block The Deal](https://www.bullished.co/instacart-owes-doordash-650-million-if-it-takes-a-better-bid-doordash-owes-1-25-billion-if-9adb638a/)
- [DoorDash Agrees To Buy Instacart For About $17 Billion, With A $1.25 Billion Regulatory Breakup Fee](https://www.bullished.co/doordash-agrees-to-buy-instacart-for-about-17-billion-with-a-1-25-billion-regulatory-99ea829e/)

[All Instacart (Maplebear) (CART) coverage →](https://www.bullished.co/tag/cart/)