Sequoia, a US-based venture capital firm, said it is closing its London office, ending its Arc batch accelerator and Scouts program, and combining its early-stage and growth investing teams into one team as it narrows its focus.

The firm also said it has simplified the Sequoia Capital Fund, flattened its partnership structure, and ended its Monday partner meeting cycle.

The London closure will lead to several staff departures.

Sequoia said it does not need a local office and believes it can continue supporting European founders and startups from its Bay Area base.

Sequoia said it now has seven general partners who own and run the organization and has raised about US$10 billion in new funds.

The firm previously described the Capital Fund as a vehicle for patient capital to build enduring companies.

🔗 Source: Sequoia

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