for robotic process automation business UiPath and more – help explain why today, the VC firm well-known in the U.S., China and elsewhere has finally planted European roots. What was once a fly-by destination is now the home of Sequoia’s first non-Californian office for its flagship venture funds, anchored by a Midas List Europe investor lured away from a top local rival and with plans to expand in 2021.
Investors and entrepreneurs in Europe’s tech hubs have seen Sequoia investors on the ground to visit startups more in recent years,of U.S.-based firms pursuing deals more aggressively on the continent and in the U.K. When Atomico partner Hiro Tamura, a London-based investor, visited Germany the week before Covid-19 lockdowns began in March, he heard a delegation of five partners from Sequoia were there at the same time.
Just those few months meant a difference in Graphcore’s valuation from about $60 million pre-money to $500 million. “We hope to see those opportunities earlier,” Miller says. “And we have to be able to give our earlier-stage investments a lot more support.”and a former partner at Accel known for early investments in UiPath, food delivery startup Deliveroo, virtual events business Hopin and visual collaboration software maker Miro.
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