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Sequoia Shakes Up VC Team, Sheds Two Crypto Investors

(Bloomberg) -- Sequoia Capital, one of the world’s most prominent venture capital firms, now looks very different than it did just a year ago – following a turbulent period of market upheaval, a breakup and at least five investor departures.Most Read from BloombergApple Tests ‘Apple GPT,’ Develops Generative AI Tools to Catch OpenAIA $500 Billion Corporate-Debt Storm Builds Over Global EconomyNadella’s Microsoft Payouts Top $1 Billion on 1,000% Stock BoomTesla ...
New York United States Daniel Chen Michelle Fradin Bloomberg Businessweek Roelof Botha
Source: yahoo.com

Sequoia Capital partner Michael Moritz to exit firm after 38 years

Michael Moritz, the storied venture capitalist who sits on the boards of Stripe and Instacart, is leaving Sequoia Capital after 38 years, according to a letter sent to limited partners on Wednesday and viewed by Reuters. Moritz, 68, will now focus on Sequoia Heritage, a $15 billion wealth management fund that he helped launch in 2010. The fund will be independent from Sequoia Capital, with focus on a diversified range of assets, according to the letter.
New York United States Nilutpal Timsina Roelof Botha Michael Moritz Kanjyik Ghosh
Source: yahoo.com

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Big VC, Tech Got Backstop for Billions in Uninsured SVB Deposits

(Bloomberg) -- When federal regulators stepped in to backstop all of Silicon Valley Bank’s deposits, they saved thousands of small tech startups and prevented what could have been a catastrophic blow to a sector that relied heavily on the lender.Most Read from BloombergTitanic Sub Crew Dead After Vessel’s Catastrophic ImplosionThese Are the World’s Most (and Least) Liveable Cities in 2023US Treasury Secretary Yellen Sees Lower US Recession Risk, Says Consumer Slowdown Needed...
United States Jeff Bezos Yuri Milner Janet Yellen Bloomberg Businessweek Martin Gruenberg
Source: yahoo.com

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