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

Former Sequoia Partner Matt Miller has already been locked at $ 355 million for new VC firm, StylishIt was supported by Sequoia, was supported by Techcrunch.

December of last year declared Miller Separation from Sequoia After twelve years, “Start [his] Own fund was directed to major European founders. ”

Despite the European Focus, it is the concept of TechCrunch that the B2B will be directed to B2B companies and invests in both sides of the Atlantic, which is the stock exchange in the growth. At the same time, his activities will be relocated from London and the mill in 2021.

Before moving to the UK, Miller has already expanded Sequoia to Europe and ends the first place in London’s European office, here is the first place Local rent, Luciana LixanDruones there.

Monday sequoia refused to comment on Miller or the new fund.

Miller’s funds exceeded expectations. The initial reports showed that the Miller Increase $ 300 million For this new venture. Sources close to the issue now confirm Financial Times’ New sheet The target is $ 400 million and Sequoia has participated in a limited partner, he said. TechCrunch reached Sequoia for approval.

In particular, the new company Miller provides $ 350 million from foreign sources for an arrangement document from the United States; The reliable domestic liabilities won $ 5 million, and the remaining $ 45 million is in the process of closing the founders and other members of the startup ecosystem.

Miller’s march is primarily due to a failed power of power in a clarna portfolio. Before announcing his speech, Miller was tested and could not be Oust former colleague Michael Moritz wants NOW-NOW-PAY-BEADOTH. Sequoia coming soon sorry To support his attempt and gave Miller’s plate seat to another partner.

At the same time, the extensive voltage research within Sequoia has appeared within Sequoia, partner, both inner and divided among portfolio founders. Wunderlist founder Christian reber, one of the founders who support Europe’s first sequoia, reported the disagreement In January this year, the German remote Party returned with Maguire over the AFD. Miller and Ligandru too it’s away From the opinions supported by Maguire since then Made more controversial comments.

Despite the clarna incident, Miller protects Sequoia’s good relations, as he proves with the participation of Sequoia as a LP. Miller also remains an enterprise partner in Sequoia and continues to represent the company in several plates.

During his time in Sequoia, he worked closely with companies including Miller, Conflluent, DBT Labs, Docker, Grafa, Graffany, Hex and Tessian. At the same time, he left before the Miller and now the Evantia’s CFO has a long-lasting Sequoia worker Spencer Hemphfill coincided.

The Index Ventues and Norzon, including the US Fund, Imantik, Index Ventues and Norzon, said that it was the second “Doubles on transatlantic.” Will also be similar to size $ 348 million dollars Founded by the founder of Clarina, Norrken found the foundation in European beginnings using the “AI”.