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Sequoia pares back global operations and closes its London office
Sequoia Capital says it is reversing parts of a roughly 20-year expansion, returning to a smaller, more focused structure centred on Silicon Valley. Its changes include closing its London office, ending its Arc accelerator and Scouts programme, combining early-stage and growth teams, reducing hierarchy and cancelling its regular Monday partner meeting.
The firm says it has raised about $10 billion in new funds and will concentrate its effort on fewer people and initiatives. Arc offered pre-seed and seed companies $500,000 to $1 million, while Scouts enabled founders and operators to invest on Sequoia’s behalf; both programmes helped it reach emerging entrepreneurs. Sequoia says it will continue backing European founders from the Bay Area, while European partner Luciana Lixandru has declined an offer to move to San Francisco and will remain a partner.
In short
- Sequoia is reversing two decades of expansion.
- It is closing its London office and ending Arc and Scouts.
- The firm says it will focus more closely on Silicon Valley.
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Originally published by TechCrunch as “Sequoia hits rewind, undoing 20 years of expansion”.