News Summary

Former Sequoia partner Matt Miller has successfully secured $355 million for his new venture capital firm, Evantic, which is backed by Sequoia. After leaving Sequoia last December to start his own fund focused on B2B companies in Europe, Miller has managed to exceed his initial fundraising expectations. Evantic, although based in London, will invest across both Europe and North America, targeting Series B and growth-stage startups. Sequoia’s participation as a limited partner in this new fund indicates continued good relations with Miller despite past internal conflicts within Sequoia. The fund aims to close the remaining $45 million from founders and other startup ecosystem members. Evantic joins other cross-Atlantic venture firms like Index Ventures and Northzone, further strengthening the transatlantic investment landscape.