Former Sequoia Capital partner Matt Miller is nearing the $400m mark for his new UK-based venture capital firm, Evantic Capital, in what is poised to be one of Europe’s largest solo-led VC launches, according to a report by the Financial Time.
The report cites unnamed people familiar with the matter as revealing that Miller, who spearheaded Sequoia’s expansion into Europe before his departure following a boardroom dispute at Klarna, has already secured at least $355m in commitments from institutional investors. Final close is expected to include additional backing from entrepreneurs and Sequoia itself, which is participating in the fund.
Founded in March and headquartered in London, Evantic Capital will focus on Series B investments in AI and tech infrastructure across European markets.
Miller left Sequoia earlier this year but continues to represent the firm on select boards. He was previously involved in high-profile investments in dbt Labs, Grafana, and Graphcore.
