暗网吃瓜

Former partner is nearing the close of a new $400 million venture fund to invest in European startups, the .

Miller has already secured $355 million in commitments from institutional investors for the new London-based fund, the report said, and plans to focus on European AI and B2B startups at Series B.

Moving to London in 2021 to lead Sequoia鈥檚 European expansion, Miller last year after a 12-year stint with the company, following a at Sweden-based portfolio company .

While at Sequoia, he led the firm鈥檚 investment in enterprise cloud provider , which went public at a valuation of $11 billion in June 2021 鈥斅燼 deal that helped secure his presence on 鈥� . He also led investments in U.K.-based semiconductor company and Berlin-based workflow automation startup , among others.

鈥淚 have made the decision to start my own fund focused on the great founders of Europe,鈥� Miller last year when he announced his decision to start his own fund. 鈥淚t has been a dream of mine to be an entrepreneur again and I am excited to build something specific for this region that I love.鈥�

His new fund comes amid a sluggish period for European venture funding. Around 1,200 startups based in the continent altogether raised roughly $12.6 billion last quarter, 暗网吃瓜 data shows 鈥斅爁lat quarter over quarter and down 24% year over year.

The region鈥檚 leading countries also shifted in Q2. For the first time since 2012, Germany-based startups led the region鈥檚 funding totals, leapfrogging the U.K.

Related reading:

• Germany Leapfrogs UK To Lead European VC Investment In Q2 As Region鈥檚 Funding Settles

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