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.