Sequoia Capital says it has raised about $10 billion in new funds, in a memo posted on its X account on Wednesday titled “The Sequoia of Tomorrow”. The same memo closes its London office, sunsets its Arc accelerator and Scouts programs, merges its Early and Growth teams and ends the Monday partner meeting.
The memo names seven general partners who own and operate the firm. Spread across them, about $10 billion is roughly $1.4 billion per general partner, by our arithmetic. Sequoia gives no split of the $10 billion by fund or stage.
Business Pill · Concentration
An evergreen Business Engineer explainer on concentration, when a few big pieces make the total. It teaches the general idea only and does not discuss Sequoia.
The key insight: Sequoia says it has raised about $10 billion in new funds while closing London, sunsetting Arc and Scouts, merging its Early and Growth teams and ending the Monday partner meeting; spread across its seven general partners, that is roughly $1.4 billion each, by our arithmetic.
The memo is signed by Alfred, Andrew, David, Konstantine, Pat, Shaun and Sonya. TechCrunch identifies them as Alfred Lin and Pat Grady, the co-stewards, with Andrew Reed, Shaun Maguire, Konstantine Buhler, Sonya Huang and David Cahn. On money, it says: “We’ve raised ~$10Bn in new funds. Talent and capital are two of the key ingredients in building legendary companies.”
On focus, it says: “We are best at high-conviction, highly selective venture capital investing. This is our focus.” It adds that the firm has “sunset our batch accelerator (Arc) and Scouts programs” and removed “much of the complexity associated with the Sequoia Capital Fund”.
Sequoia says it has raised about $10 billion in new funds (memo posted on X, 4 November 2026); seven general partners are named. About $1.4 billion per general partner is our arithmetic, not how Sequoia allocates capital.
Sequoia Capital posted its memo ‘The Sequoia of Tomorrow’ on X on 4 November 2026. It says the firm has raised about $10 billion in new funds, is closing its London office, has sunset Arc and Scouts, and now operates as one team with seven general partners. This piece quotes the memo directly.
BREAKING: Sequoia is closing its London office!
DAMN
The firm just announced it doesn’t “see the need for a local presence” and as a result “several people will be leaving Sequoia”
Here’s the full paragraph:
“We are closing our London office, which means several people will be leaving Sequoia. This is not about the team – they are excellent. We simply don’t see the need for a local presence. We believe that Europe will continue to produce outlier founders and companies, and that we can continue to provide world class support from our home base in the Bay Area.”
Very interesting move and follows the footsteps of a16z which closed their london office a few years ago.
Could we see more US firms doing this
HUGE shout-out to London teams who are GOATS @biad_anas @_georgerobson @JulienBek @LucianaLix
Seb Johnson (@SebJohnsonUK) posted at 13:22 UTC on 4 November 2026 that Sequoia is closing its London office, quoting the memo’s full London paragraph. He wrote that the move follows a16z, which he said closed its London office a few years ago, and asked whether more US firms could do the same. That comparison and question are his own.
Five Things Switched Off
By our count the memo ends five structures: Arc, Scouts, the London office, the separate Early and Growth teams, and the Monday partner meeting cycle. On merging Early and Growth, it says: “There is only Sequoia. We are one team, operating under one shared mission.”
On London, the memo’s full paragraph reads: “We are closing our London office, which means several people will be leaving Sequoia. This is not about the team – they are excellent. We simply don’t see the need for a local presence. We believe that Europe will continue to produce outlier founders and companies, and that we can continue to provide world class support from our home base in the Bay Area.” TechCrunch reported that Arc, launched in March 2022, gave admitted companies $500,000 to $1 million up front, and that Sequoia opened the London office in 2020.
The memo explains the reset as the end of “a ~20 year expansionary phase”, adding: “One unintended side effect was hierarchy”.
What the Filings Show
Sequoia’s own Form D notices on SEC EDGAR name the vehicles it set up this year. On 6 April it filed for principals’ funds tied to Venture XIX, Growth XI and Seed VI; on 28 September, for Growth XII, Expansion II and DIV-2026. That is six fund families and eight principals’-fund vehicles, by our count.
Each of those eight notices gives the total offering amount as “Indefinite” and $0 sold, with a first sale yet to occur, so the filings do not size the funds. They cover principals’ vehicles, not necessarily every fund behind the $10 billion.
As we read the memo, Sequoia is pairing more capital with fewer entry points: the two programs it ends, Arc and Scouts, were the ones that reached founders earliest, while the money raised is the largest figure in the memo.
As we read the filings, the Form D notices name the vehicles but not their size, so the memo’s ~$10 billion is the only public figure for the new money.
Sequoia Capital, ‘The Sequoia of Tomorrow’, 4 November 2026
“Putting more energy behind fewer people and things means better support for the founders we back”
Three Implications
FOR FOUNDERS The memo says Arc and Scouts are sunset and there is no more Early and Growth, so founders deal with one team from stage to stage.
FOR EUROPE The memo says Sequoia is closing its London office and will support European founders from the Bay Area.
FOR THE AI FUNDING CYCLE About $10 billion in new funds is roughly $1.4 billion per general partner, by our arithmetic; the memo does not say how much goes to AI.
The framework says: “Conflating these clocks produces the most common analytical errors of the moment.”
As we read it, a venture firm sits across those clocks: a fund raised now has to return capital years out, while the programs Sequoia ended worked at the earliest stage. The memo names AI, space, biology and reindustrialization as shifts in parallel; the framework does not discuss Sequoia.
The memo does not say which funds make up the $10 billion, their sizes, when they closed, or how much is earmarked for AI. The Form D filings we found give no amounts. Sequoia does not say how many people leave with the London closure, beyond “several people”. The $1.4 billion per partner is a simple division, not how Sequoia allocates capital.
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Sequoia says it has raised about $10 billion in new funds, roughly $1.4 billion for each of its seven general partners by our arithmetic, while closing London, sunsetting Arc and Scouts, merging Early and Growth and ending its Monday partner meeting. Its 2026 Form D filings name six fund families but give no sizes.
A note on sourcing. The fund figure, closures and quotations are from Sequoia’s memo posted on X on 4 November 2026; partner names and programme details are as reported by TechCrunch. Fund-vehicle details are from Sequoia’s Form D filings on SEC EDGAR. Per-partner and count figures are our arithmetic.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
