Sequoia Capital is shaking up its leadership after three years of unprecedented challenges. The legendary venture firm announced Tuesday that partners Alfred Lin and Pat Grady will take over as co-Stewards, replacing Roelof Botha who's stepping down from the top role. The transition comes as Sequoia looks to move past a period marked by market upheaval, major write-offs, and internal controversies.
The leadership shuffle at Sequoia Capital marks the end of one of the most tumultuous periods in the storied firm's history. Roelof Botha, who took the reins in mid-2022, navigated the firm through market crashes, geopolitical tensions, and internal strife that would test any VC leader.
Botha's tenure began just as the tech downturn decimated public markets, crushing valuations across Sequoia's portfolio. The firm was forced to write off $200 million when cryptocurrency exchange FTX collapsed - a relatively small loss for Sequoia but a high-profile embarrassment nonetheless.
The incoming co-Stewards bring deep experience and impressive track records. Alfred Lin joined Sequoia in 2010 and has led investments in category-defining companies like Airbnb, DorDash, and prediction market platform Kalshi. Pat Grady, a nearly 19-year veteran, has spearheaded the firm's growth-stage investing since 2015, backing winners like ServiceNow, OpenAI, and legal AI platform Harvey.
Perhaps the most dramatic move during Botha's leadership came in 2023, when growing U.S.-China tensions forced Sequoia to spin off its India and China operations into separate independent firms. The decision broke up what had been a cohesive global investment powerhouse, but allowed the U.S. operation to avoid regulatory complications.
This year brought fresh controversy when partner Shaun Maguire attacked NYC mayoral candidate Zohran Mamdani on social media, calling the politician an "Islamist" who "comes from a culture that lies about everything." The comments sparked significant online backlash and led to the resignation of chief operating officer Sumaiya Balbale, a practicing Muslim, who quit over the firm's decision not to discipline Maguire.
When pressed about the Maguire situation during TechCrunch Disrupt last week, Botha defended the firm's stance. "Internally, we celebrate a diversity of opinions, and we need spiky people inside of Sequoia," he told editor-in-chief Connie Loizos in an . "We've always honored the right to free speech of each of our individual partners."












