|
|
|
|
August 21, 2025
|
Hackers Infiltrate Alleged North Korean Operative’s Computer, Leak Evidence of...
|
|
August 21, 2025
|
Ecosia Proposes Unusual Stewardship Model for Google Chrome
|
|
August 21, 2025
|
OpenAI Presses Meta for Evidence on Musk’s $97 Billion Takeover Bid
|
|
August 15, 2025
|
ChatGPT Mobile App Surpasses $2 Billion in Consumer Spending, Dominating Rivals
|
|
|
Matt Miller Raises $355M for New VC Firm Evantic, with Backing from Sequoia
July 14, 2025
Former Sequoia partner Matt Miller has raised $355 million for his new venture capital firm, Evantic, according to a U.S. regulatory filing and sources close to the matter. Though initially billed as a Europe-focused fund, Evantic will invest in both Europe and the U.S., focusing on B2B companies at the Series B and growth stages. The firm’s operations will be based in London, where Miller relocated from California in 2021, after helping lead Sequoia’s expansion into Europe.
Evantic’s raise has already surpassed its original $300 million target, and is expected to close at $400 million, with Sequoia itself joining as a limited partner. Of the $355 million already secured, $350 million comes from external backers, while $5 million was committed internally. The final $45 million is reportedly being raised from founders and other startup ecosystem members.
Miller’s departure from Sequoia followed tensions around his attempt to remove Sequoia veteran Michael Moritz from the board of Klarna, a portfolio company. The effort failed, and Sequoia later reassigned Miller’s board seat. Despite this, relations between Miller and Sequoia remain intact—he still serves as a venture partner and continues to represent Sequoia on several company boards.
During his 12-year tenure at Sequoia, Miller worked closely with notable startups including Confluent, Docker, Graphcore, Grafana, and Tessian. He is joined at Evantic by Spencer Hemphill, another former Sequoia team member, who is reportedly acting as the new fund’s CFO.
Evantic enters the market at a time when several major firms are reinforcing their presence on both sides of the Atlantic. The fund joins the likes of Index Ventures and Northzone, which are increasingly positioning themselves as transatlantic investors. Evantic will also rival in size other purpose-driven funds in the region, such as the Norrsken Foundation’s $348 million “AI for good” fund.
Though born out of complex internal politics, Evantic’s strong start—with Sequoia’s backing and a global investment scope—positions it as one of the most closely watched new firms in the transatlantic venture capital scene.
|
|
|
Sign Up to
Our Newsletter!
Get the latest news in tech.
|
|
|
