Michael Moritz Departs Sequoia Capital for Wealth Management Business
Sequoia Capital’s partner, Michael Moritz, has left the company after 37 years to focus on Sequoia Heritage, a wealth management business he co-founded in 2010. Managing assets of over $15 billion, Sequoia Heritage will become Moritz’s main focus.
Key Points:
- Michael Moritz is redirecting his efforts towards Sequoia Heritage, a wealth management business he co-founded.
- He will remain on the boards of several Sequoia-backed companies, including Stripe Inc.
- Sequoia Capital faced major setbacks in the cryptocurrency market, leading to significant investor departures.
- Geopolitical tensions between Silicon Valley and China caused Sequoia Capital to split its operations.
- Sequoia Capital, Thoma Bravo, and Paradigm are facing a class-action lawsuit over the promotion of bankrupt crypto exchange FTX.
Hot Take: Michael Moritz’s departure from Sequoia Capital highlights the impact of crypto investment missteps on the company, as well as the growing challenges in the geopolitical landscape. It remains to be seen how Sequoia Capital will navigate these obstacles and regain its reputation in the crypto market.
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