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A setup where prominent founders or operators are given capital by a large firm to invest in very early-stage startups on its behalf.
Firms use scout programs to discover promising companies before competitors notice them. Scouts are typically trusted members of the tech community who have access to early deal flow. They receive a portion of the financial upside from the investments they successfully make.
Sequoia Capital has ended its influential scout program as part of a broad organizational overhaul, signaling a shift in how venture capital firms find deals.
Venture capital firm Sequoia Capital has announced major changes, including closing its London office, shutting down its startup accelerator, and dropping its Scouts program.
