Matt Miller Secures $355M for New Venture Fund, Backed by Former Firm Sequoia
📷 Image source: techcrunch.com
Former Sequoia Capital partner Matt Miller has successfully raised $355 million for his new venture fund, MCM Ventures, with notable backing from his former employer. The fund, which marks Miller’s first independent venture since leaving Sequoia in early 2024, aims to invest in early-stage technology startups, particularly in AI, fintech, and enterprise software.
Miller, who spent over a decade at Sequoia, played a key role in high-profile investments such as Stripe and Instacart. His departure from the firm was amicable, and Sequoia’s continued support underscores the strong relationship between the investor and his former colleagues. Industry analysts suggest that Miller’s deep network and track record will give MCM Ventures a competitive edge in a crowded venture capital landscape.
Additional reporting from Bloomberg reveals that Miller’s fund has already secured commitments from several institutional investors, including university endowments and pension funds. The rapid close of the fund signals strong market confidence in Miller’s ability to identify and nurture disruptive startups.
This move comes amid a broader trend of seasoned venture capitalists launching independent funds, as seen with other high-profile spinouts like Mike Vernal’s 137 Ventures and Mary Meeker’s Bond Capital. Miller’s fund is expected to announce its first investments later this year.
