Sequoia Closes London Office
The Silicon Valley investor will back European companies from California, as part of a wider overhaul that includes shutting its Arc accelerator and raising $10bn in new funds
Sequoia Capital is closing its London office, six years after opening it, and will back European companies from its California base instead. The decision to close the London office was not about the people in London, according to the firm.
Sequoia has also shut its Arc accelerator and its Scouts programme, as part of a wider overhaul. The firm has merged its early-stage and growth teams into one, and has raised about $10bn in new funds.
Luciana Lixandru, a Sequoia partner, will remain in Europe and invest her own money in European founders. Anas Biad, another Sequoia partner, is moving to San Francisco.
Sequoia has a 20-year expansion across multiple businesses in multiple geographies, which had created a hierarchy that the firm is now seeking to flatten. The changes are intended to simplify the partnership and improve the firm's ability to support founders.
## What happens next The closure of the London office does not mean that Sequoia is abandoning its investment activities in Europe. The firm has recently co-led a €500M round with Founders Fund in Berlin defence company Stark, demonstrating its ongoing commitment to the region.
The decision to close the London office is a significant one, but it reflects Sequoia's confidence in its ability to support European founders from its California base. With its new funds and simplified partnership structure, the firm is well-positioned to continue backing innovative companies in Europe and around the world.
## Why it matters The closure of Sequoia's London office is a significant development in the European venture capital scene. It reflects the changing nature of the industry, in which firms are increasingly able to support founders remotely. The move also highlights the importance of simplicity and agility in the venture capital business, as firms seek to respond quickly to changing market conditions and support the most innovative founders.
The decision will likely have implications for the European startup ecosystem, as founders and investors adjust to the new reality. However, with Sequoia's ongoing commitment to the region and its significant new funds, the firm is likely to remain a major player in the European venture capital scene.
