**Sequoia Capital Announces Leadership Transition as Roelof Botha Steps Down**
Sequoia Capital, one of the world’s most renowned venture capital (VC) firms, announced a significant leadership change this week. Roelof Botha, who has served as the firm’s Senior Steward since mid-2022, is stepping down from his role. In his place, partners Alfred Lin and Pat Grady will take over as co-Stewards, ushering in a new era for the storied firm.
**Alfred Lin and Pat Grady: The New Leaders**
Alfred Lin and Pat Grady are both seasoned Sequoia veterans with deep ties to the firm’s legacy of backing transformative companies. Lin joined Sequoia in 2010 and quickly established himself as a leading investor, spearheading investments in notable companies such as Airbnb, DoorDash, and Kalshi. His track record of identifying and supporting category-defining startups has contributed significantly to Sequoia’s reputation as a kingmaker in Silicon Valley.
Pat Grady, meanwhile, has been with Sequoia for nearly 19 years. Since 2015, he has led the firm’s growth-stage investing, playing a pivotal role in the success of companies like ServiceNow, OpenAI, and Harvey, an AI platform for the legal industry. Together, Lin and Grady bring a wealth of experience and complementary skills to their new roles as co-Stewards.
**Botha’s Tenure Marked by Challenges and Change**
Roelof Botha’s time at the helm was marked by a series of challenges that tested the resilience of both Sequoia and the broader tech industry. When Botha took over as Senior Steward in 2022, the technology sector was facing a severe downturn. Public market valuations had dropped sharply, impacting many of the high-profile companies in Sequoia’s portfolio.
One of the most notable setbacks during Botha’s leadership was the collapse of the cryptocurrency exchange FTX, in which Sequoia had invested $200 million. While this loss represented a small slice of Sequoia’s overall portfolio, it was nevertheless a high-profile financial hit and a reminder of the inherent risks in venture investing.
Botha also navigated Sequoia through significant structural changes. In 2023, amid escalating political and regulatory tensions between the United States and China, Sequoia made the strategic decision to spin off its India and China operations into independent firms. This move reflected increasing complexities in cross-border investing and a desire to adapt to shifting global dynamics.
**Controversy and Internal Friction**
This year, Sequoia found itself at the center of a controversy involving partner Shaun Maguire, who made inflammatory comments about New York City mayoral candidate Zohran Mamdani. Maguire’s remarks, which included calling Mamdani an “Islamist” and accusing him of coming from a “culture that lies about everything,” sparked a significant online backlash. Although Maguire later moderated his