Roelof Botha

The firm has made over a thousand investments, now worth in the trillions in public market value.

When I joined Sequoia, it was clear that if I wanted to make it as a partner, you needed to produce meaningful gains.

Our ambition is to build a partnership that endures, and that means we need to leave it in a better place than we found it.

Jason Calacanis.

We conceived of this program, as you mentioned, in 2010 when we launched it.

And the idea was that there were a bunch of contemporary founders who had very interesting access to up-and-coming founders who were turning to them for advice.

But these founders didn't yet have money.

At the point that you became a scout, you didn't have the net worth you have now where you could write a check on your own.

And so we thought it would be a great program for us to provide the capital for founders like yourself to be able to invest in those companies.

And hopefully we would get an introduction to those companies for us to be able to make an investment too.

So you were in that program.

You helped us with the investment in Uber.

Sam Altman was in that group as well.

He helped with an investment in a little company called Stripe.

So at this point, that fund is a 26x fund at this point.

The highest multiple in history is...

I think Venture 12, which has Airbnb, Dropbox, Natera, AdMob, and a couple of other companies.

And then Venture 13, which is the fund right after that, has Stripe and Square, now called Block, MongoDB, and a bunch of other companies.

So those were both north of 20X funds.

I'm glad you called it an industry, not an asset class.