Nov 4 (Reuters) - Roelof Botha will step down as the

managing partner at Sequoia Capital after a little more than

three years in the role.

Botha, who spearheaded Sequoia's investments in Meta

Platforms' ( META ) Instagram, biotech firm 23andMe, and

software firm MongoDB, had joined the investment firm in 2003.

Investing veterans Alfred Lin and Pat Grady will become the

company's new stewards, according to a letter from Botha posted

on X on Tuesday.

Botha will transition into a new role of advising the

partnership and will continue to represent Sequoia on the boards

of portfolio companies.

"I am confident that Sequoia's ethos will endure and that

the deep bench of talent at Sequoia will thrive under Pat and

Alfred's leadership," Botha said in the letter.

Lin has co-headed the venture capital firm's early-stage

business since 2017 and Grady has led Sequoia's growth-stage

business since 2015.

Sequoia, founded in 1972, was an early investor in many top

tech names including Google, Apple, Cisco and YouTube.

Venture funding has seen an uptick in 2025, with global

venture funding rising 38% year-on-year to $97 billion in the

third quarter.