Former Sequoia partner Matt Miller raises $355M for new fund — with Sequoia’s backing

Former Sequia Partner Matt Miller has already locked $ 355 million for his new VC firm, ArganticWhich is supported by Sikoiya, learned TechCrunch.

Last December, Miller announced His departure from Sikoiya “Twelve years after the start [his] Focusing on the great founders of Europe is their own funds. ”

Despite the European focus, the understanding of the TechCrunch is that Avantic will actually invest in both the Atlantic, B2B will focus on B2B companies and focus on growth level. However, its activities will be conducted from London, where Miller moved from California in 2021.

Before moving to the UK, Miller had already led the expansion in Secoyer Europe and eventually joined the European office in Sicoier in London, where he first worked as well Local rental, Luciana LixandruWho is there.

On Monday, Sikoiya refused to comment on Miller or new funds. TechCrunch has also reached Miller directly.

Miller’s fundraising has exceeded expectations. The initial reports indicate that Miller was Increase $ 300 million For this new initiative. The nearest formulas of the subject are now modified The new report of the Financial Times The target is $ 400 million and that Sequia is taking part as a limited partner. TechCrunch has reached Sikoiya for confirmation.

Specifically, Miller’s new firm has earned $ 350 million from external sources according to US regulatory filing; Million has also received 5 million in Avenue internal commitments and the founder and the rest of the startup ecosystem are in the process of shutting down the remaining $ 45 million, sources have told TechCrunch.

Miller’s departure originally appears to derive from a failed power play of the portfolio company Clarner. Too much before his departure declared, Miller tried and failed to expel Former colleague The board of Michael Moritz-now-from the board of Behmoth. Sikoiya soon Apologized To support the effort and give the seat of the Miller board to another partner.

At the same time, extensive tensions spread over partner Shaun Maguier, whose views proved to be divided internally and in portfolio founders. Christian Reber, the founder of the Wonderlist, is one of the first Sikoia-supported founders in Europe, Expressed his disagreement Earlier this year, German returned to January with Maguer over the far-right party. Miller and Licksandruo Away From the supported views of Magu, who has ever been Made more controversial commentsThe

Despite the Clarana incident, Miller seems to be present to maintain good relations by Sikoia, proved by the firm’s participation of the LP in his new initiative. Miller is part of an initiative in Sikoiya and has been representing the firm on several boards.

During his time in Sikoiya, Miller worked closely with companies including Confluent, DBT Labs, Docker, Graphina, Graphina, Hex and Tessian. He also overlap with a long -time Sequia employee, Spencer Hemfil, who had gone before Miller and now he is before the CFO of Avital.

Technically, when a US fund has a US fund, Abolatic will now join the terms of cross-atlantic zealous organizations with index vencher and Northzone, whose next one said it was “To double over translatantic.” It would be the same in size 8 348 million The Narsken Foundation, founded by Clarna’s founder, is investing in European startups that use “AI for good”.