Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Amogy raises $80M to power ships and data centers with ammonia

    July 15, 2025

    TC All Stage launches in Boston today

    July 15, 2025

    Nextdoor redesigns app with AI recommendations, local news, and real-time emergency alerts

    July 15, 2025
    Facebook X (Twitter) Instagram
    • Home
    • Technology
    • Gaming
    • Phones
    • Buy Now
    Facebook X (Twitter) Instagram Pinterest Vimeo
    My BlogMy Blog
    • Home
    • Features
      • Example Post
      • Typography
      • Contact
      • View All On Demos
    • Technology

      Is the Hyperloop Doomed? What Elon Musk’s Latest Setback Really Means

      March 10, 2022

      The Best Early Black Friday Deals on Gaming Laptops and Accessories

      March 10, 2022

      Apple Watch’s ECG Can Help Diagnose Heart Problem: Research

      January 19, 2021

      Simple Tips and Tricks to Take Care of Your Expensive DSLR Camera

      January 16, 2021

      Tech Study Reveals Effects of Mobile Technology on Professionals

      January 15, 2021
    • Typography
    • Phones
      1. Technology
      2. Gaming
      3. Gadgets
      4. View All

      Is the Hyperloop Doomed? What Elon Musk’s Latest Setback Really Means

      March 10, 2022

      The Best Early Black Friday Deals on Gaming Laptops and Accessories

      March 10, 2022

      Apple Watch’s ECG Can Help Diagnose Heart Problem: Research

      January 19, 2021

      Simple Tips and Tricks to Take Care of Your Expensive DSLR Camera

      January 16, 2021

      Game Development This Week: Save On Essential Tools and More

      November 19, 2022

      Riot Games Acquires a Wargaming Studio to Help With Live Game Development

      March 10, 2022

      Keep Talking and Nobody Explodes: A Boomer Gaming in VR

      March 12, 2021

      Hologate Announces New Plans for First Large Format World VR Arcade

      January 16, 2021
      8.9

      DJI Avata Review: Immersive FPV Flying For Drone Enthusiasts

      January 15, 2021
      8.9

      Bose QuietComfort Earbuds II: Noise-Cancellation Kings Reviewed

      January 15, 2021

      Thousands Of PC Games Discounted In New Black Friday Sale

      January 15, 2021

      Could Solar-Powered Headphones Be The Next Must-Have?

      January 15, 2021

      Will Using a VPN on Phone Helps Protect You from Ransomware?

      January 14, 2021

      Popular New Xbox Game Pass Game Being Review Bombed With “0s”

      January 14, 2021

      Google Says Surveillance Vendor Targeted Samsung Phones

      January 14, 2021

      Why Are iPhones More Expensive Than Android Phones?

      January 14, 2021
    • Buy Now
    Subscribe
    My BlogMy Blog
    Home»Uncategorized»Former Sequoia partner Matt Miller raises $355M for new fund — with Sequoia’s backing
    Uncategorized

    Former Sequoia partner Matt Miller raises $355M for new fund — with Sequoia’s backing

    Y U RajuBy Y U RajuJuly 14, 2025No Comments3 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Former Sequoia partner Matt Miller has already locked in $355 million for his new VC firm, Evantic, which is also backed by Sequoia, TechCrunch learned.

    Last December, Miller announced his departure from Sequoia after twelve years to “start [his] own fund focused on the great founders of Europe.” 

    Despite the European focus, TechCrunch’s understanding is that Evantic will actually invest on both sides of the Atlantic, with a focus on B2B companies at the Series B and growth stages. However, its activities will be conducted from London, where Miller moved from California in 2021.

    Before moving to the U.K., Miller had already spearheaded Sequoia’s expansion into Europe and eventually joined Sequoia’s European office in London, where he worked alongside its first local hire, Luciana Lixandru, who remains there.

    Sequoia on Monday declined to comment on Miller or the new fund.

    Miller’s fundraising has exceeded expectations. Initial reports indicated that Miller was raising $300 million for this new venture. Sources close to the matter now corroborate the Financial Times’ newer report that the target is $400 million and that Sequoia is participating as a limited partner. TechCrunch has reached out to Sequoia for confirmation.

    Specifically, Miller’s new firm has secured $350 million from external sources, per a U.S. regulatory filing; Evantic has also received $5 million in internal commitments and is in the process of closing the remaining $45 million from founders and other members of the startup ecosystem, sources tell TechCrunch.

    Miller’s departure appears to stem primarily from a failed power play at portfolio company Klarna. Not long before announcing his exit, Miller had reportedly tried and failed to oust former colleague Michael Moritz from the board of the buy-now-pay-later behemoth. Sequoia soon after apologized for supporting the attempt and gave Miller’s board seat to another partner.

    At the same time, broader tensions were surfacing within Sequoia over partner Shaun Maguire, whose views have proven divisive both internally and among portfolio founders. Wunderlist founder Christian Reber, one of the first Sequoia-backed founders in Europe, expressed his disagreement back in January with Maguire over the German far-right party AfD earlier this year. Miller and Lixandru also distanced themselves from the views supported by Maguire, who has since then made more controversial comments.

    Despite the Klarna incident, Miller appears to maintain good relations that Sequoia, as evidenced by the firm’s participation as an LP in his new venture. Miller also remains a venture partner at Sequoia and continues to represent the firm on several boards.

    During his time at Sequoia, Miller worked closely with companies including Confluent, dbt Labs, Docker, Grafana, Graphcore, Hex, and Tessian. He also overlapped with longtime Sequoia employee Spencer Hemphill, who left before Miller did and is now reportedly Evantic’s CFO.

    While technically a U.S. fund, Evantic will now join the ranks of cross-Atlantic venture firms including Index Ventures and Northzone, the latter of which said it was “doubling down on the transatlantic.” It will also be similar in size to the $348 million that the Norrsken Foundation, established by Klarna’s founder, is investing in European startups that use “AI for good.”



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleFollowing YouTube, Meta announces crackdown on ‘unoriginal’ Facebook content
    Next Article Meta built its AI reputation on openness — that may be changing
    Y U Raju

    Related Posts

    Uncategorized

    Amogy raises $80M to power ships and data centers with ammonia

    July 15, 2025
    Uncategorized

    TC All Stage launches in Boston today

    July 15, 2025
    Uncategorized

    Nextdoor redesigns app with AI recommendations, local news, and real-time emergency alerts

    July 15, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Demo
    Top Posts

    2025 will be a ‘pivotal year’ for Meta’s augmented and virtual reality, says CTO

    June 6, 202544 Views

    Still no AI-powered, ‘more personalized’ Siri from Apple at WWDC 25

    June 9, 202543 Views

    XRobotics’ countertop robots are cooking up 25,000 pizzas a month

    June 9, 202542 Views
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    85
    Featured

    Pico 4 Review: Should You Actually Buy One Instead Of Quest 2?

    thf0oJanuary 15, 2021
    8.1
    Uncategorized

    A Review of the Venus Optics Argus 18mm f/0.95 MFT APO Lens

    thf0oJanuary 15, 2021
    8.9
    Editor's Picks

    DJI Avata Review: Immersive FPV Flying For Drone Enthusiasts

    thf0oJanuary 15, 2021

    Subscribe to Updates

    Get the latest tech news from FooBar about tech, design and biz.

    Demo
    Most Popular

    2025 will be a ‘pivotal year’ for Meta’s augmented and virtual reality, says CTO

    June 6, 202544 Views

    Still no AI-powered, ‘more personalized’ Siri from Apple at WWDC 25

    June 9, 202543 Views

    XRobotics’ countertop robots are cooking up 25,000 pizzas a month

    June 9, 202542 Views
    Our Picks

    Amogy raises $80M to power ships and data centers with ammonia

    July 15, 2025

    TC All Stage launches in Boston today

    July 15, 2025

    Nextdoor redesigns app with AI recommendations, local news, and real-time emergency alerts

    July 15, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Technology
    • Gaming
    • Phones
    • Buy Now
    © 2025 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.