The Newshound

Silicon Valley giant Sequoia is shutting its London office and axing UK staff in a blow to Britain's tech ambitions

Sequoia Capital's headquarters in Menlo Park; the firm, an early backer of Apple, Airbnb and Stripe, confirmed the closure citing no need for a local presence despite UK startups raising $23.7bn in venture capital last year.
Sequoia Capital's headquarters in Menlo Park; the firm, an early backer of Apple, Airbnb and Stripe, confirmed the closure citing no need for a local presence despite UK startups raising $23.7bn in venture capital last year.

Sequoia Capital confirmed the closure of its London base on Wednesday, saying "we simply don't see the need for a local presence," just six years after expanding into Europe by hiring former Accel investor Luciana Lixandru to lead its regional operations.

Sequoia, an early backer of Apple, Airbnb and Stripe, will increasingly run European investments from its Silicon Valley headquarters.

The retreat comes despite UK startups raising $23.7bn in venture capital last year — up 33 per cent on 2024 — with London reclaiming its top spot ahead of Paris.

MoreFinancial TimesSequoia shuts London office as VC firm refocuses on Silicon ValleyCity A.M.Sequoia scraps London office as UK employees face axeDealroomSequoia shuts London office six years in, raises $10B elsewhere - DealroomGlobal Banking & Finance ReviewSequoia Capital to Close London Office, Raises $10B in Funding - Global Banking & Finance ReviewTradingViewSequoia Capital to close London office, raises about $10 billion in new funding - TradingViewBloomberg.comSequoia Capital Plans to Close London Office, Cut Some Staff - Bloomberg.com
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