(Reuters) -Roelof Botha will step down as the managing partner at Sequoia Capital after a little more than three years in the role, the storied Silicon Valley venture capital firm said on Tuesday.
Botha, who spearheaded Sequoia's investments in Meta Platforms' Instagram, biotech firm 23andMe and software firm MongoDB , had joined the investment firm in 2003.
Investing veterans Alfred Lin and Pat Grady will become the company's new stewards, according to a letter from Botha posted on X on Tuesday.
Botha will transition into a new role of advising the partnership and will continue to represent Sequoia on the boards of portfolio companies.
Botha first became a steward of the Sequoia Partnership in 2017 when he led the U.S. and European business for Sequoia, before stepping up to manage the firm's global operations.
Under the South African executive's tenure, Sequoia split off its Chinese and Indian/Southeast Asian businesses into two independent firms in 2023, as it tries to navigate economic and geopolitical challenges.
"I am confident that Sequoia's ethos will endure and that the deep bench of talent at Sequoia will thrive under Pat and Alfred's leadership," Botha said in the letter.
Lin has co-headed the venture capital firm's early-stage business since 2017 and Grady has led Sequoia's growth-stage business since 2015.
Sequoia, founded in 1972, was an early investor in many top tech names including Alphabet's Google and YouTube, Apple and Cisco.
Venture funding has seen an uptick in 2025 amid the AI frenzy set off by ChatGPT, with global venture funding rising 38% year-on-year to $97 billion in the third quarter.
(Reporting by Pritam Biswas in Bengaluru and Krystal Hu in San Francisco; Editing by Sriraj Kalluvila and Leslie Adler)
Roelof Frederik Botha currently works at Weebly, Inc., as Director from 2012, WhisperText, Inc., as Director, Inside.com, Inc., as Director from 2006, Evernote Corp., as Director from 2010, Natera, Inc., as Lead Independent Director from 2015, MongoDB, Inc., as Independent Director from 2013, Unity Technologies SF, as Director from 2009, Block, Inc., as Lead Independent Director from 2022, Biomodal Ltd., as Director from 2015, Pendulum Therapeutics, Inc., as Director from 2019, Bird Rides, Inc., as Director from 2018, Unity Software, Inc., as Lead Independent Director from 2024, Ethos Technologies, Inc., as Lead Independent Director from 2018, Sequoia Capital, as Managing Partner, Sequoia Capital Operations LLC, as Managing Member from 2022, Stanford Graduate School of Business, as Member-Management Board from 2017, Landis Technologies, Inc., as Board Member from 2020, and mmhmm, Inc., as Board Member from 2020. Mr. Botha also formerly worked at Xoom Corp., as Independent Director from 2004 to 2015, AliphCom Corp., as Director, Assurex Global, as Director, Insider Pages, Inc., as Director, YouTube LLC, as Director in 2005, Meebo, Inc., as Director from 2005 to 2011, TokBox, Inc., as Director from 2007 to 2012, Tumblr, Inc., as Director from 2010 to 2013, Eventbrite, Inc., as Lead Independent Non-Executive Director from 2009 to 2022, Nimbula, Inc., as Director from 2009 to 2013, Cue LLC, as Director in 2013, Plain Vanilla Corp., as Director, Bird Global, Inc., as Independent Director from 2018 to 2022, 23andMe, Inc., as Director from 2017 to 2024, Chrome Holding Co., as Independent Director from 2021 to 2024, PayPal, Inc., as Chief Financial Officer from 2000 to 2003, and Instagram, Inc., as Business Partner in 2012. Mr. Botha received his undergraduate degree in 1994 from the University of Cape Town and Masters Business Admin degree in 2000 from Stanford Graduate School of Business.
Cisco Systems, Inc. is the world leader in designing, developing, and marketing Internet network equipment. Net sales break down by family of products and services as follows:
- network equipment (59.1%); switches and routers, technological software and systems (storage, Internet access, and security systems, wiring, gateways, connection interfaces and modules, etc.), etc.;
- services (26.6%): technical assistance, network design, execution, and integration services, etc.;
- security products (14.3%).
Net sales are distributed geographically as follows: Americas (59.4%), Europe/Middle East/Africa (26.2%) and Asia/Pacific (14.4%).
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