Sequoia Capital announced Wednesday that it is unwinding much of its expansion from the past two decades. The firm has raised roughly $10 billion in new funds. It will close its London office and end its Arc accelerator and Scouts programs.
Internal restructuring
Sequoia is merging its early and growth investing teams into one team. The firm is flattening its partnership and ending its Monday partner meeting cycle. The changes aim to reduce hierarchy and give founders more seamless support.
Leadership and Europe
Seven general partners now own and operate the organization. They are Alfred Lin, Pat Grady, Andrew Reed, Shaun Maguire, Konstantine Buhler, Sonya Huang, and David Cahn. Luciana Lixandru joined the firm in 2020 as its first partner in Europe.
Arc and Scouts
Sequoia launched Scouts around 2009 to let founders and operators invest small checks on the firm's behalf. Arc began in March 2022 as an accelerator that offered $500,000 to $1 million to admitted companies. Sequoia said removing these programs will put more energy behind fewer people and things.
Sequoia believes Europe will keep producing outlier founders and will support them from the Bay Area. Several people will leave the firm because of the London closure. The firm said it is on offense entering shifts in AI, space, biology, and reindustrialization.