Accel
Luciana Lixandru.
- Sequoia Capital, one of Silicon Valley's leading venture capital firms, has named Luciana Lixandru from Accel as its first European partner.
- Sequoia has long been expected to open its first office in Europe as the firm looks to the continent for promising startup investments.
- Lixandru is considered to be one of the brightest stars in European venture capital, and has led investments while at Accel into unicorn startups including Deliveroo, UiPath, and Vinted.
- Click here for more BI Prime stories.
Early Apple and Google investor Sequoia Capital has confirmed its expansion into Europe, naming Luciana Lixandru from Accel as its first European partner.
The move marks Sequoia's growing activity in Europe, where it has already backed email security firm Tessian and AI chipmaker Graphcore. The news comes just days after the fund warned that the novel coronavirus was a "black swan event" that might severely impact startups.
Business Insider reported last November that Sequoia was stepping up its search for talent in Europe as part of its increasing interest in startups on the continent.
Luciana Lixandru joined Accel in 2011, where she was focused on enterprise software and consumer internet companies.
She led Accel's investments in Deliveroo, UiPath, Framer, Tessian, Miro and is also on the board of Vinted. It is likely Lixandru will have to quit her Accel board positions when she joins Sequoia.
Lixandru confirmed her move on Twitter.
In a blogpost announcing the hire, Sequoia said Lixandru will anchor Sequoia's European operations out of London from September, confirming long-held industry rumors that the fund was looking to establish a presence in the UK capital.
US funds provide an increasing amount of capital to European startups. According to European venture capital firm Atomico, 19% of all European funding rounds in 2019 included a US backer. It's part of a push by major US investors to take advantage of Europe's startup scene which is generally seen as less competitive and more accessible than Silicon Valley.
Sequoia also has a presence in Israel and Asia, with offices in India, China, Hong Kong, and Singapore.
Sources indicated that other European names under consideration by Sequoia include Jan Hammer from Index Ventures, and Balderton partner Suranga Chandratillake. Business Insider previously reported that Hammer had not accepted an offer. Business Insider has approached Chandratillake for comment.
Excited to share that I'm joining the @Sequoia team in September. I can't wait to work together to find the next generation of exceptional founders in Europe. Thank you to @Accel and the wonderful entrepreneurs I've partnered with over the past 8 years. https://t.co/K6FYvj8ClT
- Luciana Lixandru (@LucianaLix) March 10, 2020