News Summary

Matt Miller, a partner at Sequoia Capital, has announced his departure from the firm after a 12-year tenure to start a new venture firm aimed at European founders. Despite his exit, Miller will continue as a venture partner with Sequoia and maintain his board seats. This move follows previous tensions within Sequoia, including an unsuccessful attempt to remove Michael Moritz from the board of Klarna, which led to Miller’s replacement by another Sequoia investor, Andrew Reed. Miller’s new venture has been met with support from several London-based venture capitalists.