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: WellPoint 2Q tops Wall Street expectations

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

Sony surprises with first quarter profit

22 minutes ago

(AP)—Sony reported a surprise eightfold jump in quarterly profit as sales got a perk from a cheap yen and its bottom line was helped by gains from buildings and its stake in a video-game maker.

Samsung profit falls as smartphone sales slow

37 minutes ago

(AP)—Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.

Why let your sales force influence product prices?

20 hours ago

From the outside, you might not notice the ongoing tension within many large businesses: the battle between salespeople, on the one hand, and marketers and product managers, on the other. Because the salespeople ...

User comments : 0