Published by
Benzinga
Benzinga
Venture firm Sequoia Capital has undergone significant changes over the past year, marked by market volatility, a split, and the departure of at least five investors. What Happened: Michael Moritz, a long-standing partner since 1986, is stepping away from the venture firm to concentrate on Sequoia Heritage, a wealth management business he co-founded that exceeds $15 billion. A significant portion of his family foundation, Crankstart, is held at Heritage. Moritz will continue to serve on the boards of various Sequoia companies, such as Stripe Inc., but will gradually step down from these roles,…