Ex Capital sequoia partner Matt Miller is approaching the end of the new Venture Fund worth $ 400 million to invest in European startups, Financial times Reported.
Miller has already secured $ 355 million of liabilities from institutional investors to a new London fund, said the report, and plans to focus on European startups AI and B2B in Series B.
Moving to London in 2021 to conduct the European expansion of Sequoia, Miller He left the company in December Last 12 months after a 12-year stay in the company, after Conference room dispute in the Swedish portfolio company Bright.
While in Sequoia he managed the company’s investment in a cloud supplier for enterprises Tributarywhich in June 2021 in public in the amount of $ 11 billion Forbes‘ Midas List Europe. He also conducted investments at the British semiconductor company Graphcore and Berlin startup of labor flow automation N8Namong others.
“I decided to set up my own fund focused on the great founders of Europe,” Miller wrote Last 12 months, when he announced his decision to start his own fund. “My dream was to be an entrepreneur again and I am glad that I can build something specific for the region that I love.”
His new fund appears among the slow period for European financing of the undertaking. About 1,200 startups based on the continent collected around $ 12.6 billion in the last quarter, show the data of Crunchbase – a flat quarter above the quarter and a decrease by 24% 12 months on 12 months.
The leading countries of the region have also modified into Q2. For the first time since 2012, startups in Germany