Sequoia says it has raised about $10B in new funds as it closes London, ends Arc and Scouts and merges its Early and Growth teams

TLDR

• Sequoia says it has raised about $10B in new funds, with no fund names, sizes or close dates given.¹²
• It is closing its London office, ending its Arc and Scouts programmes and merging its Early and Growth teams.¹²
• Bloomberg reported a $10B figure in August, so it is unclear whether this is new money.³

Sequoia published a post on X on 4 November titled "The Sequoia of Tomorrow", signed by seven general partners, which says: "We've raised ~$10Bn in new funds."¹ Reuters notes the firm gave no details on a time period.² The post does not say which vehicles the money sits in, how large each is, which stage it targets or when it closed, and no filing or independent confirmation of the figure was found.¹² The number may overlap with earlier reports: Bloomberg Businessweek ran "Armed With $10 Billion, Sequoia's Leaders Plan Its New Era" on 5 August, and its text was not available here, so what that figure covered is not established.³ The $10B is best read as Sequoia's own rounded claim, not a closed fund of a named size.¹

The larger news is the restructuring. The post says: "There is no more 'Early & Growth'. There is only Sequoia." It describes the firm as "best at high-conviction, highly selective venture capital investing" and says the Arc and Scouts programmes are being sunset.¹ TechCrunch adds that Arc, launched in March 2022, ran seven-week pre-seed and seed cohorts with $500K to $1M up front, and that Scouts dates from about 2009.¹ Sequoia is closing the London office it opened in 2020, saying: "We simply don't see the need for a local presence."¹ It also says it has made changes "flattening the partnership"; seven general partners now own and operate the firm: Alfred Lin, Andrew Reed, David Cahn, Konstantine Buhler, Pat Grady, Shaun Maguire and Sonya Huang.¹ TechCrunch reports that Stephanie Zhan has left to launch her own firm and that Roelof Botha cut all ties with Sequoia this summer.¹

On the people affected, Pathfounders quotes London partner Luciana Lixandru as saying she will stay a partner, keep her board seats and invest personally, and Anas Biad as moving to San Francisco with the firm.⁴ Calcalist, an Israeli outlet, reports the same changes and notes only that Sequoia has invested in Israel since 1999; it reports no change to any Israel presence.⁵ The Telegraph puts Sequoia's assets at around $80bn.⁶ The sources do not name the limited partners behind the new money or give the number of London staff leaving.¹²⁶

On the firm's focus, the post cites "multiple tectonic shifts in parallel (AI, space, biology, reindustrialization, and perhaps more)" and does not mention defence.¹ TechCrunch reported in April that Sequoia had raised about $7B for late-stage "expansion" bets, nearly double a comparable 2022 vehicle, and names Physical Intelligence and Factory among its recent AI backings; the $7B is Bloomberg's figure and Sequoia declined to comment at the time.⁷

Why it matters: one of the largest venture firms says it has about $10B of fresh capital while shrinking to a single US-centred team, which points to money concentrating in fewer, larger AI bets and a withdrawal from London, though the figure is self-reported and may overlap with money reported earlier.¹³