Sequoia Closes London Office as Part of Wider Changes

Sequoia Capital is closing its London office, and several people will be leaving the firm as a result.

It said the decision was not about its London team, which it described as excellent.

“We simply don’t see the need for a local presence. We believe that Europe will continue to produce outlier founders and companies, and that we can continue to provide world class support from our home base in the Bay Area,”

said the firm.

The London closure is one of several changes the firm has made in the year since what it called its generational transition.

Over that period, the firm has wound down its batch accelerator Arc and its Scouts programme, removed much of the complexity associated with the Sequoia Capital Fund, and streamlined both its operating and investing teams.

Its early and growth teams now operate as one team. In addition, the firm has ended its Monday partner meeting cycle and said it will do its best to adapt to founders’ processes.

It noted that roughly 20 years of expansion across multiple businesses and geographies had introduced hierarchy, which spread from the operating side into the investing team.

To address this, it has made internal changes to flatten the partnership.

Sequoia added that it has raised about US$10 billion in new funds and will focus on high-conviction, highly selective venture capital investing.

Featured image: Edited by Fintech News Switzerland, based on image by Drazen Zigic via Magnific.

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