Sequoia Capital closes its London office and will cover Europe from the Bay Area

Sequoia Capital is closing its London office, and several people will leave the firm. The office was set up in 2020 as Sequoia's first European base for its flagship funds.

Sequoia says the decision is not about the team. It no longer sees the need for a local presence and will keep backing European founders from its home base in the Bay Area. The number of departures was not disclosed.

Sequoia is the latest US firm to pull back from London. Andreessen Horowitz closed its London office last year, and Coatue has also left the city.

The read: European founders will now pitch a Sequoia team based in California, not one down the road.