Key Takeaways
- • Sequoia Capital, the Silicon Valley venture firm known for early investments in Google and WhatsApp, is closing its London office, according to Guido Fawkes.
- • The firm opened the London office six years before this closure, per the source article.
- • Sequoia said in a memo to founders that several London staff will leave, stating the decision is "not about the team" and that it sees no need for a local presence.
- • Sequoia says Europe will continue producing "outlier founders" that it can back from its Bay Area base.
- • The source notes this is not the first venture firm to exit London, suggesting a broader pattern.
Summary
Sequoia Capital, the Silicon Valley venture capital firm that was an early investor in Google and WhatsApp, is shutting its London office, according to a report from Guido Fawkes. The office was opened six years ago, and the closure will result in several people leaving the firm.
In a memo to founders, Sequoia said: "We are closing our London office, which means several people will be leaving Sequoia. This is not about the team – they are excellent. We simply don't see the need for a local presence." The firm argued that Europe will continue to produce "outlier founders" and that it can invest in them from the Bay Area without a local office.
The source article characterizes the move as not the first venture firm to exit London, indicating a continuing shift among investors in the city's startup ecosystem. The available source material does not include further detail on deal activity, fund size, or staffing numbers associated with the closure.
In a memo to founders, Sequoia said: "We are closing our London office, which means several people will be leaving Sequoia. This is not about the team – they are excellent. We simply don't see the need for a local presence." The firm argued that Europe will continue to produce "outlier founders" and that it can invest in them from the Bay Area without a local office.
The source article characterizes the move as not the first venture firm to exit London, indicating a continuing shift among investors in the city's startup ecosystem. The available source material does not include further detail on deal activity, fund size, or staffing numbers associated with the closure.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.