Sequoia Capital shuts London office to centralize European investing operations
Business
Sequoia Capital is closing its London office and will now run European investments from its base in the San Francisco Bay Area.
The company says this isn't about performance (the London team was called "excellent") but is part of a bigger plan to simplify how things work.
Sequoia ends Arc and Scouts programs
Sequoia is also ending its Arc accelerator and Scouts programs, while combining early-stage and growth investment teams into one.
Even with these changes, Sequoia says it's still backing European startups (just remotely now) and has raised about $10 billion in new funds to keep supporting founders with quality investments.