Sequoia’s Matt Miller is exiting the firm after making headlines earlier this year

The writing was on the wall, seemingly. 

Sequoia Capital partner Matt Miller announced on Wednesday that he’s leaving the powerhouse outfit after a 12-year career to build his own new firm focused on European founders. He added he will remain a venture partner with Sequoia and maintain his board seats while fleshing out the “specifics of what is to come next.”

London-based VCs like Saul Klein, Tom Hulme, Mattias Ljungman, and Miller’s colleague Luciana Lixandru congratulated Miller, who moved to the city in 2021 to lead Sequoia’s expansion into Europe. 

Still, few could be surprised by Miller’s news –  not after he tussled at the start of the year with former colleague Michael Moritz, who Miller reportedly tried and failed to oust from the board of the fintech Klarna almost immediately after himself joining it. Sequoia soon after apologized for supporting the move, replacing Miller with another Sequoia investor, Andrew Reed.