The writing seemed to be on the wall.
Sequoia Capital partner Matt Miller announced Wednesday that he is leaving the powerhouse team where he built his 12-year career to form his own new firm focused on European startups. He added that he will remain a venture partner at Sequoia and will retain his board seat while fleshing out “the details of what happens next.”
London-based VCs such as Saul Klein, Tom Hulme, Mattias Ljungman and Miller’s colleague Luciana Lixandru congratulated Miller, who moved to the city in 2021 to lead Sequoia’s European expansion.
Still, few people are surprised by Miller’s news. Following Miller’s spat with former colleague Michael Moritz at the start of the year, the company reportedly tried unsuccessfully to oust him from the board shortly after he joined fintech Klarna. Sequoia replaced Miller with another Sequoia investor, Andrew Reed, shortly after he apologized for supporting the move.
