Sequoia Capital Invests $7 Million in Tonos

Sequoia Capital has invested an estimated $7 million in Tonos Inc., an Internet music company founded by songwriter Carol Bayer Sager and record producers David Foster and Kenneth “BabyFace” Edmonds. The Culver City-based music firm is expected to launch a Web site in April that the founders say will function as a “music industry insiders’ network,” providing visitors with online instruction, tips and gossip about the record business. Last week, Tonos acquired the popular Velvet Rope site and NetMusic School and also cut deals with Dianne Warren, Rodney Jerkins and other top producers and songwriters to participate in online talks with aspiring musicians.