Sequoia closes London office, ends Arc and Scouts, and says it raised about $10 billion

In a new memo, the venture firm also merges its early-stage and growth teams and drops its fixed partner meeting cycle.

Sequoia Capital published a memo on X on 4 November describing a broad restructuring. The firm said it has raised about $10 billion in new funds while shutting several programs it built over roughly two decades of expansion.

Sequoia is ending its Scouts program, launched around 2009, and Arc, a batch accelerator started in March 2022 that gave pre-seed and seed companies $500,000 to $1 million. It is closing the London office it opened in 2020, and several people will leave. Partner Luciana Lixandru declined a move to San Francisco but remains a partner, she said on X. The firm is merging its early and growth teams, flattening its partnership and ending its fixed partner meeting cycle. Seven general partners now run the firm, led by co-stewards Alfred Lin and Pat Grady.

Sequoia said Europe will keep producing strong founders and that it can support them from the Bay Area. The closure follows Andreessen Horowitz leaving London last year and Coatue in 2024, according to TechCrunch.

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