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Sequoia Capital is the venture firm most often named in the same breath as Silicon Valley itself. Founded in Menlo Park in 1972, it backed Atari and Apple in the 1970s, Cisco and Oracle in later decades and Google in 1999. Today it is a different kind of organization, with an open-ended fund, a leadership pair that took over in late 2025 and no formal ties to the Chinese and Indian firms that once shared its name.
This profile is a neutral explainer for visitors and founders. Facts come from Sequoia's own website, its regulatory filings and reporting from outlets including TechCrunch, Bloomberg and Axios. Fund sizes are tied to a dated source. For the bigger picture, see our venture capital guide.
Don Valentine and the founding
Don Valentine came to investing from the chip industry, where he had worked in sales during the early semiconductor boom. He founded Sequoia in 1972 in Menlo Park, the same year Kleiner Perkins opened on Sand Hill Road. Sequoia raised its first venture fund in 1974. The firm's early style favored large markets and capable teams over polished business plans, a habit that shaped how it picked companies for decades.
The location mattered. Menlo Park sat between Stanford and the young chip companies of Santa Clara Valley. The new offices along Sand Hill Road were a short drive from both. Our guide to Shockley, Fairchild and the semiconductor boom explains the industry Valentine came out of.
Atari, Apple and the early portfolio
Two early bets made the firm's name.
- Atari, 1975. Sequoia invested in the video game company in 1975, one of its first deals from the 1974 fund.
- Apple, 1978. Sequoia was one of Apple's first outside investors, putting money in during 1978, about two years after Steve Jobs and Steve Wozniak started the company.
Over the next two decades Sequoia backed a long list of companies that defined their industries. Its portfolio from this era includes Cisco, Oracle and Nvidia. Not every bet worked. The online grocer Webvan, a Sequoia investment, became one of the best known failures of the dot-com collapse.
Google, 1999
In 1999 Sequoia invested in Google alongside Kleiner Perkins, while the search company was still a small team working out of offices in Palo Alto. The deal tied Sequoia to one of the most valuable companies ever built and remains part of the firm's identity. Read more on our page about Google's Palo Alto years.
Later famous deals
From the 2000s on, Sequoia kept appearing on the cap tables of companies that became household names. Its portfolio includes YouTube and WhatsApp, later bought by Google and Facebook. Partner Alfred Lin, who joined Sequoia in 2010, led investments in Airbnb, DoorDash and Kalshi, according to TechCrunch. Partner Pat Grady, who has led growth-stage investing since 2015, backed ServiceNow, OpenAI and the legal AI company Harvey.
The firm also had setbacks in this period. It wrote off a roughly $200 million investment in the crypto exchange FTX after that company collapsed in 2022. A crypto fund it launched in 2022 was later cut sharply in size.
The 2021 evergreen structure
For most of its history Sequoia worked like other venture firms. It raised a fund, invested it over a few years and returned money to its limited partners within about ten years. In October 2021 it announced a change for its U.S. and European business.
- One permanent fund. Limited partners invest in the Sequoia Capital Fund, an open-ended vehicle with no fixed end date.
- Sub-funds feed in. Closed-end seed, venture and growth sub-funds still make investments. When those companies go public or are sold, gains flow back into the main fund.
- Longer holding periods. The fund can keep shares in public companies for years instead of distributing them soon after an IPO.
- Liquidity on request. Limited partners who need cash can withdraw from the fund.
To make this possible, Sequoia registered as an investment adviser. The fund grew quickly. Bloomberg reported it at almost $20 billion in February 2025. Sequoia kept raising closed-end sub-funds too, including a $750 million early-stage fund and a $200 million seed fund reported by TechCrunch in late 2025.
The 2023 split from HongShan and Peak XV
Sequoia expanded abroad in the 2000s. It set up an Israel fund in 1999, Sequoia Capital China in 2005 and an India business soon after. Each regional team ran its own funds under a shared brand. As tensions between the United States and China grew, that arrangement became harder to sustain.
On June 6, 2023, Sequoia announced it would split into three independent firms:
| Region | New name | Leadership at the split |
|---|---|---|
| United States and Europe | Sequoia Capital | Kept the original name |
| China | HongShan | Led by Neil Shen |
| India and Southeast Asia | Peak XV Partners | A group of managing directors |
The separation was set to finish by March 2024. After that the three firms no longer share limited partners or profits. When this guide says Sequoia, it means the U.S. and European firm based in Menlo Park.
Leadership today
Doug Leone and Michael Moritz led Sequoia from 1996. Roelof Botha took over the U.S. business in 2017 and later led the whole firm. On November 4, 2025, Sequoia announced that Botha was stepping down as its senior steward and that Alfred Lin and Pat Grady would share the role. Sequoia's own website lists Lin as a partner on the seed and early team and Grady as a partner on the growth team.
The firm is a registered investment adviser, so its assets are reported in regulatory filings. A filing summarized in January 2025 showed roughly $56 billion in assets under management. Treat any figure as a snapshot, since the value of the evergreen fund moves with public markets.
The office and visiting
Sequoia lists Menlo Park as its headquarters. Its SEC filings, the most recent from February 2026, give the address as 2800 Sand Hill Road, Suite 101, in the stretch of office parks near Interstate 280. The building is private. There is nothing to visit, no sign worth a detour and no reason to walk in without a meeting. Our Sand Hill Road guide explains what you can see from the road.
Good to know
- Sequoia does not take unscheduled visits. Meetings are by appointment only.
- First meetings often happen on video. In-person meetings at the office usually come later in the process.
- Rosewood Sand Hill, about a mile west of Stanford on the same road, is a common place for breakfast meetings.
Advice for founders
Sequoia's website groups its partners by stage, from seed and early to growth. Before reaching out, read which partner works in your area and what they have backed. The strongest path in is a warm introduction from someone the partner trusts, such as a founder in the portfolio or an angel who has worked with the firm. A short email with a clear description of the product, the market and early traction works better than a long deck. Our guides to pitching investors and term sheet basics cover the process in more detail.
If you are flying in for meetings, stay close to the road. Downtown Palo Alto and Menlo Park are both about 10 to 15 minutes away by car. Compare hotels near Sand Hill Road and consider a rental car if you have several meetings in one day, since transit along Sand Hill Road is limited. Our where to stay guide covers neighborhoods and hotels.
Frequently asked questions
Where is Sequoia Capital's office?
Sequoia is headquartered in Menlo Park. Its SEC filings, most recently in February 2026, list 2800 Sand Hill Road, Suite 101. The office is private and meetings are by appointment only.
Who founded Sequoia Capital?
Don Valentine founded Sequoia in 1972 in Menlo Park. He had worked in semiconductor sales before turning to investing. The firm raised its first fund in 1974 and backed Atari the next year.
What is the Sequoia Capital Fund?
It is the open-ended fund Sequoia announced in October 2021 for its U.S. and European business. Instead of closing every ten years, it holds stakes in public companies for longer and lets investors add or withdraw money. Separate seed, venture and growth sub-funds feed into it.
Is Sequoia China still part of Sequoia?
No. In June 2023 Sequoia announced that its China business would become HongShan and its India and Southeast Asia business would become Peak XV Partners. The separation was set to finish by March 2024, after which the firms no longer share investors or profits.
How do founders get a meeting with Sequoia?
Most founders reach a partner through a warm introduction from someone the firm trusts, such as a portfolio founder or an experienced angel. Research which partner covers your area first. Showing up at the office without an appointment does not work.