"Just over three years after taking the reins as the leader of Sequoia Capital, Roelof Botha is stepping down as Senior Steward of the storied VC firm. The firm announced Tuesday that partners Alfred Lin and Pat Grady will succeed him as co-Stewards. Lin joined the storied firm in 2010, where he has led major investments into category-defining companies like Airbnb, DoorDash, and Kalshi."
"The firm also wrote off $200 million when its investment in cryptocurrency exchange FTX blew up - a small loss in the bigger scheme of things for Sequoia but a financial hit all the same. Further, in 2023, amid growing political tensions between the U.S. and China and regulatory pressures on both sides, Sequoia spun off its India and China operations into separate independent firms."
"This year, Sequoia became embroiled in a controversy over partner Shaun Maguire's comments attacking New York City mayoral candidate Zohran Mamdani, calling the politician an "Islamist" who "comes from a culture that lies about everything." Though Maguire later walked back some of those remarks, they led to a sizable online backlash and debate. In August, Sequoia's chief operating officer, Sumaiya Balbale, a practicing Muslim,"
Roelof Botha is stepping down as Senior Steward of Sequoia Capital, and partners Alfred Lin and Pat Grady will become co-Stewards. Lin joined Sequoia in 2010 and led investments in Airbnb, DoorDash, and Kalshi. Pat Grady has been a partner for nearly 19 years and led growth-stage investing since 2015, backing ServiceNow, OpenAI, and Harvey. Botha led the firm through the 2022 market downturn, a $200 million FTX write-off, and the 2023 spin-off of India and China operations amid U.S.-China tensions. Sequoia faced controversy over partner Shaun Maguire's comments and the subsequent resignation of COO Sumaiya Balbale.
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