He has already secured at least $355mn from institutional investors, according to one of the people familiar with the matter, while aiming to reach a final fund size of around $400mn that will also include backing from entrepreneurs. <\/p>\n
Miller left Sequoia earlier this year but continues to represent the firm on certain boards, according to those familiar with the matter. In March, UK corporate filings show Miller created a new entity called Evantic Capital. Sequoia is participating in the fund, people familiar with the deal added. \u00a0<\/p>\n
He previously spearheaded Sequoia\u2019s expansion into Europe, helping open the firm\u2019s London office in 2020. However, he announced he would leave Sequoia last year after being embroiled in a boardroom battle at Klarna<\/a>, the Swedish buy-now, pay-later group.\u00a0<\/p>\n Miller joined Klarna\u2019s board at the start of 2024, and initiated a move to remove Klarna\u2019s board chair and former Sequoia leader Michael Moritz<\/a>. Sequoia managing partner Roelof Botha had backed Miller\u2019s move, but the firm then aborted that effort, and Miller instead left his post<\/a> on the Klarna board.<\/p>\n Recommended<\/p>\n Miller\u2019s new London-based fund will focus on backing technology start-ups in areas including artificial intelligence and technology infrastructure at middle stages of development or so-called series B investing.\u00a0<\/p>\n The fund will be one of the largest VC firms based in Europe run by a single venture capitalist, and is also one of the sector\u2019s largest new launches in a difficult fundraising market.<\/p>\n Other recent large launches have included last year\u2019s debut of the new European venture capital firm Noteus, which the Financial Times reported was seeking to raise<\/a> at least \u20ac600mn to back local start-ups. <\/p>\n Miller joined Sequoia from Goldman Sachs in 2012, and backed start-ups including dbt Labs, Grafana and UK chipmaker Graphcore which was sold to <\/a>SoftBank last year.<\/p>\n Europe has generally been seen as lagging the US when it comes to producing leading tech start-ups.<\/p>\n However, the market has been buoyed by a crop of relatively new AI companies such as Lovable<\/a>, Mistral<\/a>, Synthesia and DeepL \u2014 as well as defence tech group Helsing, which have raised funds at multibillion-dollar valuations.<\/p>\n Miller and Sequoia declined to comment.<\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this…\n","protected":false},"author":2,"featured_media":14066,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[28,158],"class_list":{"0":"post-14065","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entrepreneurship","8":"tag-business","9":"tag-entrepreneurship"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/14065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=14065"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/14065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/14066"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=14065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=14065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=14065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"A](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2025\/07\/https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net.jpeg\")
<\/a><\/p>\n