Sequoia Capital scales back global presence and shutters key programs
Venture capital firm Sequoia Capital is restructuring its operations, closing offices and ending programs to refocus on its Silicon Valley core.
Sequoia Capital is reversing two decades of expansion, announcing a consolidation that includes closing its London office, shutting down its Arc accelerator, and ending its prominent Scouts program. The firm, which recently raised approximately $10 billion in new capital, plans to merge its early-stage and growth investment teams and flatten its internal hierarchy.
These changes effectively terminate programs that defined Sequoia’s reach over the last 15 years. The Scouts program, established in 2009, provided capital to founders to make investments on the firm's behalf, identifying high-profile startups like Uber and Stripe. The Arc accelerator, launched in 2022 to compete with Y Combinator, will also be dismantled. Sequoia stated that these programs, while productive, contributed to a level of internal hierarchy the firm now seeks to eliminate.
By closing its London office, which opened in 2020, Sequoia is signaling a return to a more centralized model. The firm aims to simplify its management structure, including the dissolution of its standing Monday partner meeting, as it pivots away from the global, expansion-focused strategy it pursued under previous leadership.