Sequoia hits rewind, undoing 20 years of expansion
Sequoia Capital posted a memo to X on Wednesday morning titled “The Sequoia of Tomorrow” that’s full of surprises. The firm has raised roughly $10 billion in new funds, it says. It is also closing its London office, shutting down its Arc accelerator and its Scouts program, merging its early-stage and growth teams into one, flattening its partnership, and killing the Monday partner meeting.
The framing is forward-looking, but the messaging is very much about rewinding to an earlier time when the team was smaller and focused more narrowly on Silicon Valley.
Sequoia says as much itself. The firm describes coming out of a roughly 20-year expansionary phase during which it built multiple businesses in multiple geographies and says an unintended side effect was hierarchy. Nearly everything being undone here was built during that stretch, under a succession of stewards running from Doug Leone through Jim Goetz to Roelof Botha.
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