Sequoia Capital announced a major restructuring on Wednesday, effectively reversing two decades of global expansion. The firm raised approximately $10 billion in new funds while closing its London office and discontinuing its Arc accelerator and Scouts program. The memo, titled "The Sequoia of Tomorrow," outlines a return to a smaller, more focused structure centered on Silicon Valley, merging early-stage and growth teams and eliminating the Monday partner meeting.
This shift follows a 20-year period of growth under leaders like Doug Leone, Jim Goetz, and Roelof Botha, during which the firm built multiple businesses across various geographies. The restructuring results in a flattened partnership of seven general partners, including co-stewards Alfred Lin and Pat Grady, along with Andrew Reed, Shaun Maguire, Konstantine Buhler, Sonya Huang, and David Cahn. Key departures include Jess Lee, who transitions to chief product officer, and Stephanie Zhan, who left the firm.
Luciana Lixandru, Sequoia's first European partner, declined a move to San Francisco and will continue investing personally in Europe. The memo also confirms the return of Carl Eschenbach, former Workday CEO, as a full-time partner. For European founders, the message reinforces that the center of gravity has shifted back to the Bay Area, echoing similar closures by Andreessen Horowitz and Coatue.
Source: TechCrunch Venture · Summarized by HeadlinesBriefing