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Sequoia’s Leone Says Tech Investors Have Cut Activity

  • Market turmoil has rocked the confidence of tech investors
  • Investor has led a $60 million funding round in Cyera
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The ongoing tech downturn has caused late-stage venture capital funds to pull back activity as risks to the economy mount, according to a senior executive at Sequoia Capital.

Venture capital funds have gone from telling portfolio companies “run, run, run” to “stop, stop, stop,” said Sequoia Capital Managing Partner Doug Leone in an interview. With “prices sticking downwards,” there are “fewer investors and fewer founders as typical in a down-market cycle,” he said.