Sequoia Capital's Nov. 4 reorganization pairs a London office closure with the merger of its early-stage and growth teams, alongside the firm's report that it raised roughly $10 billion in new funds.
Sequoia said it can support European founders from its Bay Area base. “We simply don’t see the need for a local presence,” the firm said. It did not announce an end to its European investments.
Sequoia said several staff members will leave as part of the London closure, but it gave no headcount or move date.
Sequoia is combining early-stage and growth investing in a single team. It has shut the Arc batch accelerator and Scouts programs, flattened its partnership structure and stopped partners’ recurring Monday meeting. Sequoia said seven general partners own and run the firm.
The firm attributed its more layered organization to about two decades of expansion across business lines and regions.
It gave no breakdown of the roughly $10 billion total by fund, fundraising window or close date. Sequoia also did not clarify whether previously announced fund vehicles are included.
