Sequoia Capital

Sequoia Capital has backed a remarkable share of the companies that defined successive technology eras, from semiconductors and personal computing through the internet and mobile.

The firm restructured its American and European business into a single permanent fund structure, allowing it to hold public positions rather than distribute them at listing — a significant departure from standard venture practice. Its India and China operations separated into independent firms.

Sequoia's stated orientation is toward founders attacking large markets early, with an emphasis on durability rather than momentum.

The permanent capital structure reflects a belief that the most valuable part of a company's compounding often happens after the public listing, not before it.

• Invests across seed, venture, and growth from a unified structure
• Runs a scout programme giving operators capital to make small investments
• Leads rounds and typically takes board involvement
• Holds positions after listing rather than distributing at IPO
• Concentrated portfolio construction rather than broad indexing

Apple · Google · Airbnb · Stripe · WhatsApp · Zoom · Nvidia · Klarna · DoorDash

Roelof Botha leads the firm. Historically shaped by Don Valentine, who founded it, and Michael Moritz and Doug Leone, who ran it through its internet-era expansion.

A Sequoia term sheet carries signalling value that materially affects subsequent rounds, in both directions — a pass after diligence is noticed.

The firm is known for direct, sometimes blunt engagement, and for staying involved through difficult periods rather than only in good ones.