Roelof Botha is the new leader of Sequoia, replacing Doug Leone as senior steward of the firm, according to a letter to the firm's LPs.
It's a major power transition for one of Silicon Valley's most storied firms. Botha had already been the firm's invisible hand and one of the most powerful people in venture capital as steward of the firm and lead of its U.S. and Europe business. With the promotion, Botha will be in charge of the firm's global operations and compliance now that it's a registered investment advisor. Sequoia China will continue be run by Neil Shen, the firm's only other steward.
Botha, 48, has long been a quietly powerful force inside Sequoia, helping drive the launch of programs like Sequoia Scouts and the development of the new evergreen model of the Sequoia Capital Fund. He became a steward of the firm in 2017, and in the last two years, began transition talks with Leone, according to Forbes. He will become senior steward on July 5, the day after Leone's 65th birthday, cementing his primary role in the next generation of Sequoia's leadership.