A New Beginning for Matt Miller

In a surprising yet somewhat anticipated move, Matt Miller, a seasoned partner at Sequoia Capital, announced his departure after an impressive 12-year tenure. His next venture? Establishing a new firm dedicated to nurturing European tech founders. While stepping into this new role, Miller will continue to contribute as a venture partner at Sequoia and retain his board positions, ensuring his influence remains significant as he outlines the details of his forthcoming plans.

Acknowledgments and Reactions

The news from Miller was met with warm congratulations from notable London-based venture capitalists such as Saul Klein, Tom Hulme, Mattias Ljungman, and his colleague Luciana Lixandru. These figures have been pivotal in supporting the tech ecosystem in the city where Miller has been stationed since 2021 to spearhead Sequoia’s European expansion.

A Tumultuous Year at Sequoia

While many celebrate Miller’s new direction, it’s not entirely unexpected following earlier tensions within Sequoia. At the year’s outset, Miller engaged in a notable dispute with former colleague Michael Moritz over board dynamics at fintech giant Klarna. The conflict arose almost immediately after Miller joined the board and attempted to unseat Moritz—a move Sequoia later regretted and for which they issued an apology. Subsequently, Andrew Reed replaced Miller on the Klarna board.

“It’s not just about leaving; it’s about what comes next—building something that truly supports European founders.” – Matt Miller

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Conclusion: A Future Focused on Europe

Miller’s decision marks a significant moment for European tech entrepreneurship. His deep experience and strategic vision promise to bring fresh opportunities to the region’s startup scene. As details of his new firm emerge, European founders and investors alike will be watching closely to see how this chapter unfolds.