Former Sequoia Executive Matt Miller Targets $400m for European Tech Venture Fund

Embarking on a new venture post-Sequoia, former partner Matt Miller is reported to be in the process of gathering about $400m for a fresh VC fund. The catch? This fund will be centred primarily on immortalising the future of technology in Europe. Prior revelations by Sifted paint an ambitious picture of this venture, highlighting Miller’s objective of mustering at least $300m to support European AI and B2B tech startups in their Series B and C stages.

Drawing credibility from authoritative sources privy to the development, the Financial Times recently reported that Miller has already managed to secure a whopping $355m from institutional investors. This comes with an active aim of raising an additional $50m, backing his ambitious, pan-European tech dream.

Miller’s new VC fund, aimed exclusively at bolstering European founders, will have its roots in London. Reportedly, it has already secured the commitment of several institutional investors, endowments, non-profits, and over 100 startup operators and founders. Both Silicon Valley and Europe stand in solidarity with this cause, much to the delight of the future tech landscape in Europe.