Sequoia closes London office, sunsets Arc and Scouts initiatives
The venture capital firm closed $10bn in growth and expansion funding this year. Read more: Sequoia closes London office, sunsets Arc and Scouts initiatives
Venture capital firm Sequoia announced it will close its London office and sunset two key initiatives – the Scouts programme and the Arc accelerator – as part of its expansion strategy. The decision comes after Sequoia raised $10bn in growth and expansion funding this year, with new leadership under Alfred Lin and Pat Grady. The company maintains it will continue to provide world-class support from its home base in the Bay Area, believing European firms have the potential to produce outstanding founders and businesses.
Several job losses are expected due to the closure, which marks one of several big-name investors to withdraw from Europe in recent years, following Andreessen Horowitz and Coatue.
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