Sequoia Capital is significantly restructuring its operations, including closing its London office and shutting down its 17-year-old scout program.
The firm indicates this change is designed to consolidate resources and focus energy on fewer initiatives.
This shift highlights a broader trend within venture capital, as major firms move away from broad, decentralized scout networks toward more concentrated and intensive investment models.
The end of a 17-year-old model
Sequoia's scout program began 17 years ago and became widely known, as many other investment firms adopted a similar practice. Under this model, the firm selected entrepreneurs and market experts to identify and invest in new businesses on its behalf, leveraging their connections and market presence.
Roxanne Varza, who participated in the program from 2020 to 2025, publicly expressed her regret over the decision. She noted that the program had made a significant contribution, helping participants build a significant investment track record and develop their own network of contacts in the field.
How investments are changing
Sequoia's move comes as the investment market shifts away from massive networks of partners to approaches with fewer but more active individuals, and as many experienced executives prefer to invest their own money as "angel investors."
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Other large investment firms, such as Andreessen Horowitz (a16z), have also been overhauling their programs. In these cases, the strategy is to reduce the number of partners while offering more resources to those who remain active.
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