The decision by Sequoia to become a registered investment adviser (RIA) and move to a “singular, permanent structure,” in its own words, landed with a splash in the U.S. venture capital market. But perhaps it shouldn’t have made quite as many waves as it did.
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Sequoia was not the first United States-based venture capitalist to opt for RIA status, and it was also not the first venture capitalist that The Exchange tracks that moved to a more permanent-capital model. The combination of becoming an RIA and moving to a capital pool that isn’t beset with artificial return windows may be notable in the United States, but we’ve seen examples of this elsewhere.
To better understand what Sequoia is up to, The Exchange reached out to a number of publicly listed venture capital groups from the United Kingdom: We chatted with Augmentum Fintech COO Richard Matthews, Molten Ventures partner Vinoth Jayakumar and Forward Partners Managing Partner Nic Brisbourne. We’ve spoken to them before, when we previously explored the advantages a …
