Former Sequoia Partner Matt Miller Raises $355 Million for New Fund, Evantic, With Backing from Sequoia
Good news for the startup world! Matt Miller, a former partner at Sequoia Capital, has successfully raised $355 million for his new fund, Evantic. The fund has also received backing from Sequoia itself, as TechCrunch has learned.
This is a significant achievement for Miller, who left Sequoia last year to start his own venture. With his extensive experience and expertise in the tech industry, Miller has been able to garner the support of some of the biggest players in the market.
The success of Evantic’s fundraising is a testament to Miller’s reputation and track record in the startup world. During his time at Sequoia, Miller was involved in several successful investments, including Airbnb, Dropbox, and WhatsApp. This not only showcases his ability to identify promising startups but also his knack for nurturing them into successful businesses.
Miller’s departure from Sequoia was met with surprise and speculation. However, with the launch of Evantic and the impressive amount raised, it is evident that Miller is ready to take on a new challenge and make a mark in the industry on his own.
In a statement, Miller expressed his gratitude for the support and confidence shown by Sequoia and other investors in Evantic. He also shared his excitement for the opportunities that lie ahead for the fund and its portfolio companies.
Sequoia, known for its early investments in companies like Google, Apple, and LinkedIn, has also expressed its support for Miller’s new venture. The firm’s decision to back Evantic further solidifies Miller’s reputation as a top-notch investor and his potential to make a significant impact in the startup ecosystem.
With the current state of the world, the startup industry is facing unprecedented challenges. However, Miller and his team at Evantic are determined to navigate through these uncertain times and support the growth of innovative and disruptive startups.
The $355 million raised by Evantic will be used to invest in early-stage startups across various industries, including healthcare, fintech, and consumer technology. This is a significant amount, especially in these times, and it demonstrates the confidence investors have in Miller and his team.
Miller’s departure from Sequoia and the launch of Evantic also highlight the growing trend of top investors and partners leaving big-name firms to start their own venture capital funds. This trend not only shows the maturity of the startup ecosystem but also the increasing number of opportunities for investors in the market.
In conclusion, the news of Matt Miller raising $355 million for his new fund, Evantic, is a positive development for the startup world. It not only showcases Miller’s expertise and reputation but also the potential for growth and success in the industry. With Sequoia’s backing and Miller’s track record, Evantic is poised to make a significant impact in the tech industry and support the growth of innovative startups. We wish Matt Miller and the Evantic team all the best for their future endeavors.
