US venture capital giant Sequoia Capital is closing its London office, ending the six-year run of a significant European presence and triggering a shake-up of its investment team.
In a bombshell announcement on X, the Silicon Valley firm said it would retreat to its Bay Area headquarters, despite continuing to back European startups.
“We are closing our London office, which means several people [our italics] will be leaving Sequoia,” the firm said.
“This is not about the team - they are excellent. We simply don’t see the need for a local presence.”
Sequoia insisted Europe would continue producing exceptional companies but said it could support them from California.
The announcement prompted immediate statements from its London partners, revealing what appears to be a split between those relocating to San Francisco and those determined to remain in Europe. Pathfounders is reaching out to the partners for full statements.
Luciana Lixandru, who helped establish Sequoia's European operation, confirmed in a statement posted to X and LinkedIn she would remain as a Partner at the firm but stay in Europe.
“My conviction on Europe hasn’t moved, and neither am I; when given the opportunity to move to San Francisco, I chose to stay here and focus on this wonderful, imperfect ecosystem,” she posted on X.
“I’ll remain a Partner at Sequoia and continue serving on the boards of my portfolio companies, while also investing personally in the next generation of extraordinary European founders.”
However, she added: “More to share on my next steps soon. For now, I am looking forward to spending some time with my newborn.”
Anas Biad, meanwhile, confirmed he is staying with Sequoia, but relocating from London to California.
“Personal update: I’m moving from London to San Francisco with @sequoia,” he posted. He said he would continue working with European founders.
Julien Bek’s posts so far have stopped short of explicitly confirming he was leaving Sequoia or confirming a specific direction, although the ambivelance strongly suggested a departure.
“Sequoia is consolidating in the US. I’m staying in Europe. Time to build,” he wrote on X.
“I’m grateful to my colleagues at @sequoia for the opportunity to do that together. This feels like a good moment to think about what the next 10 years could look like.”
Bek said he would continue supporting his portfolio companies and serving on their boards, but did not clarify his future relationship with Sequoia.
George Robson, another London partner, also addressed Sequoia’s decision, but his status also remains unclear.
“Sequoia is entering a new chapter, consolidating around the Bay Area, where the pace of change is extraordinary,” he wrote, praising the firm's culture and investment philosophy. Pathfounders messaged him for comment but has not received a reply at publication.
The closure comes as part of a much broader restructuring at Sequoia, which says it has raised approximately $10 billion in new funds while scrapping its Arc accelerator and Scouts programmes, flattening its partnership structure and merging its early-stage and growth investment operations.
The reversal marks a striking retreat for a firm that entered London in 2020 amid growing competition among US venture capital giants for Europe's most promising startups.
Sequoia says it remains committed to European founders. But its decision to abandon a local office, just six years after opening one, sends a decidedly different signal and will be taken as something of a body blow and a vote of no confidence by the UK and European ecosystem.
