Sequoia tech legend to step back for medical reasons

May 21, 2012

Michael Moritz, a venture capitalist who provided early backing for firms including Google and Yahoo!, is stepping back from management at Sequoia Capital for medical reasons.

Moritz said in a statement released Monday that he was "diagnosed with a rare medical condition which can be managed but is incurable."

"I've been told that in the next five to 10 years the quality of my life is quite likely to decline," the statement said.

"Right now I feel fitter than ever and I hope that I'll be one of the lucky ones who can live a full life and defy the statisticians. But there is no way of predicting this with certainty and thus for me, life has assumed a different meaning and I am making some adjustments."

Moritz said he would remain chairman and continue to be "deeply involved" in funding new ventures, but would "extract myself from the daily management of Sequoia Capital."

Sequoia has been among the most prominent of the venture firms, backing companies such as Apple, , Oracle and others.

The Welsh-born Moritz joined Sequoia in 1986.

Explore further: Alibaba steals Yahoo's thunder ahead of IPO

add to favorites email to friend print save as pdf

Related Stories

TechCrunch founder starts venture capital fund

Sep 02, 2011

(AP) -- Michael Arrington, founder of popular tech blog TechCrunch, is starting a venture capital firm with an initial $20 million to invest in the same kinds of startups that TechCrunch often covers.

Immigration chief seeks to reassure Silicon Valley

Feb 22, 2012

(AP) -- The Obama administration's top immigration official said Wednesday he wants to keep more foreign-born high-tech entrepreneurs in the U.S. But to make that happen, he said he needs those entrepreneurs to turn their ...

Professor accused of telling secrets

Jan 16, 2006

A California biotech company has reportedly filed a legal action against a University of Connecticut professor, alleging he disclosed trade secrets.

VCs seek dot-com success stories in India

Mar 24, 2006

Manik Arora of Battery Ventures, the Silicon Valley-based VC that prefers to call itself a "lead institutional investor in its portfolio companies," spends a lot of time researching on Indian Internet ventures these days. ...

Recommended for you

New US-Spanish firm says targets rich mobile ad market

4 hours ago

Spanish telecoms firm Telefonica and US investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multi-billion-dollar ...

Technip, Heerema win third giant Angolan oil contract

7 hours ago

The ultra-deep Angolan offshore oil project called Kaombo generated the third huge contract in three days on Wednesday when French group Total picked two firms to carry out underwater engineering worth $3.5 billion.

Yahoo sees signs of growth in 'core' (Update)

22 hours ago

Yahoo reported a stronger-than-expected first-quarter profit Tuesday, results hailed by chief executive Marissa Mayer as showing growth in the Web giant's "core" business.

User comments : 0

More news stories

Quantenna promises 10-gigabit Wi-Fi by next year

(Phys.org) —Quantenna Communications has announced that it has plans for releasing a chipset that will be capable of delivering 10Gbps WiFi to/from routers, bridges and computers by sometime next year. ...

Floating nuclear plants could ride out tsunamis

When an earthquake and tsunami struck the Fukushima Daiichi nuclear plant complex in 2011, neither the quake nor the inundation caused the ensuing contamination. Rather, it was the aftereffects—specifically, ...

Unlocking secrets of new solar material

(Phys.org) —A new solar material that has the same crystal structure as a mineral first found in the Ural Mountains in 1839 is shooting up the efficiency charts faster than almost anything researchers have ...

Patent talk: Google sharpens contact lens vision

(Phys.org) —A report from Patent Bolt brings us one step closer to what Google may have in mind in developing smart contact lenses. According to the discussion Google is interested in the concept of contact ...

How kids' brain structures grow as memory develops

Our ability to store memories improves during childhood, associated with structural changes in the hippocampus and its connections with prefrontal and parietal cortices. New research from UC Davis is exploring ...