Sequoia raises $10B, shuts London office in Silicon Valley reset

The venture capital firm Sequoia Capital has raised approximately $10 billion in a new round of funding but has also cut back on its operations. On Wednesday, the firm said it will be shutting down its London office and discontinuing two of its founder programs in favor of a more substantial focus on the San Francisco Bay Area. The implication for the European startups is this: without a local presence, does Sequoia still have the ability to provide the same level of support? Fewer teams, one address Closing the London office isn’t the only significant change made by Sequoia. It is also laying off its Arc Accelerator along with the Scouts network. It is also merging its early- and late-stage investment teams into one organization without unnecessary middle management.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cryptopolitan.