Michael Moritz
InvestorSenior Adviser at Sequoia Heritage · Board director at TrialSpark · Board director at Maplebear Inc. · Board director at Stripe
San Francisco, CA
Writes $50K – $200M checks · typically $25M
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Photo: TechCrunch, CC BY 2.0, via Wikimedia Commons ↗
About
Michael Moritz began as a Time journalist who wrote an early book on Apple, then joined Sequoia Capital in 1986 and backed Google, Yahoo, PayPal, and Stripe. He served as one of Sequoia's leaders alongside Doug Leone before stepping away from the firm in 2023 after nearly four decades. He now advises Sequoia Heritage, the independent wealth-management office he helped launch, and funds large-scale philanthropy through Crankstart.
Invests in
Climate TechConsumerEnterprise SoftwareFintechMarketplacesMedia & Entertainment
Beyond investing
- Founded
- Moritz co-founded Technologic Partners, a technology newsletter and conference company, after leaving Time. Moritz helped launch Sequoia Heritage, a wealth-management fund, in 2010 with colleague Doug Leone. Moritz founded Crankstart, a San Francisco-based nonprofit foundation, in 2005. Moritz funds the San Francisco Standard, a for-profit San Francisco news website.
- Education
- Studied at Christ Church, Oxford (Bachelor's, History) Studied at Wharton School of the University of Pennsylvania (MBA, 1978) Studied at Howardian High School
- Charities
- Moritz is a signatory of The Giving Pledge, committing to give away at least 50% of his wealth. Moritz and his wife donated US$50 million to Christ Church, his Oxford college, in June 2008. Moritz donated £75m to Oxford University in July 2012 to fund scholarships for students from low-income families. Moritz gave $5 million for the Juilliard School's Music Advancement Program in February 2013. Moritz and his wife gave $30 million to UCSF in September 2013 to create the UCSF Discovery Fellows Program.
- Awards
- Moritz was appointed Knight Commander of the Order of the British Empire (KBE) in the 2013 Birthday Honours for services to promoting British economic interests and philanthropic work. Moritz received an honorary doctorate from the Hong Kong University of Science and Technology in November 2014. Moritz was awarded an honorary fellowship from Cardiff University in July 2010. Moritz was honoured as a fellow of Aberystwyth University in July 2014. Moritz was named to the 2007 TIME 100. TIME selected Moritz for its 2007 list of influential people; Forbes ranked him first on the Midas List in 2006 and 2007. These are editorial recognitions, not audited measures of individual returns.
- Family
- Moritz lives in San Francisco with his wife, American novelist and sculptor Harriet Heyman, and their two sons. Moritz was born in Cardiff, Wales, to a Jewish family; his father Ludwig Alfred Moritz was a professor of Classics at Cardiff University.
- More
- Moritz disclosed in 2012 that he had been diagnosed with a rare, incurable medical condition, later described as a rare form of blood cancer. Born September 12, 1954 in Cardiff. His parents, Alfred/Ludwig Moritz and Doris Rath Moritz, were German-Jewish child refugees; his father became a Cardiff classics professor and university vice-principal. Moritz's 2026 memoir reconstructs relatives' persecution and murder under Nazism. Moritz says Oxford tutorials and journalism trained him to enter unfamiliar subjects, gather facts quickly, distill them and decide before certainty—skills he later applied to venture investing. While reporting Apple's early years, Moritz received unusual access. The critical January 1983 Time profile, reported by Moritz but written by Jay Cocks, angered Jobs and ended their relationship. Moritz later said he regretted that they never reconciled; his 1984 book was independent rather than an authorized biography. Moritz and Doug Leone succeeded Don Valentine in 1995/1996 and co-led Sequoia. Moritz helped extend the firm's approach to China, India and Israel and helped form its growth, Heritage and public-markets initiatives; regional portfolios are institutional, not automatically Moritz-led deals. He stepped back from day-to-day Sequoia management in 2012 after disclosing a rare, incurable but unspecified medical condition. Doug Leone became sole leader; Moritz remained chairman, partner and investor. No diagnosis is inferred. Left Sequoia Capital effective July 19, 2023 after nearly 38 years to deepen his HRTG/Sequoia Heritage advisory work. A few Sequoia board seats were to transition gradually rather than ending immediately. A Stanford teaching case records Sequoia's April 1995 offer of $1 million for 25% at a $4 million valuation and Moritz's 24-hour deadline. Other secondary accounts report $975,000 and 32%; these figures are not collapsed. Yahoo went public in 1996. Moritz joined Google's board in May 1999 when Sequoia and Kleiner Perkins invested $25 million collectively, commonly reported as $12.5 million each. This was a Sequoia fund investment co-led across firms, not a personal Moritz check. Moritz joined X.com's board in 1999, helped bridge the 2000 X.com-Confinity merger and remained on the combined board. Participant history says PayPal rejected an earlier eBay offer, completed its February 2002 IPO and accepted a $1.5 billion acquisition later that year. Moritz called Webvan Sequoia's worst investment. Fortune reported Sequoia invested $53.5 million from 1997-1999 before the 2001 bankruptcy. He drew lessons about capital intensity, premature geographic rollout and trying to change consumer behavior before a local formula worked. Moritz acknowledged eToys as another money-losing dot-com investment and said the period caused him to set aside some of Valentine's margin and capital-efficiency rules. Exact Sequoia loss and Moritz's personal economics are not public. Moritz has publicly regretted passing on Netflix when it was a mail-order DVD business and said he initially imagined Uber as no more than a high-end limousine service. Neither is classified as a Moritz investment. During a 2016 activist proxy fight, Moritz publicly defended Green Dot management and criticized Harvest Capital. He and Timothy Greenleaf resigned effective May 22, immediately before the annual meeting. The filing records departure but does not establish misconduct. Moritz championed Fidji Simo for CEO in 2021. Later reporting described tension with founder Apoorva Mehta over IPO timing; Mehta became executive chair and left the board at the 2023 IPO. The reporting does not by itself prove Moritz forced either move. In February 2024 a Sequoia representative sought Moritz's removal as Klarna chair amid shareholder-agreement and board disputes. Sequoia withdrew the request after a fuller assessment, apologized, stated support for him and changed its own board representative. Moritz remained chair through the IPO. Asked about Sequoia's lack of women investing partners, Moritz cited a pipeline problem and said the firm would not lower standards. The framing drew substantial criticism for implying a diversity trade-off. He clarified that many remarkable women would flourish in venture and said Sequoia was working to find them. Record-based reporting identifies Moritz as a major donor to Democratic and anti-Trump efforts, including $7.8 million in the 2024 cycle. He urged President Biden to leave the race, then publicly criticized technology leaders supporting Donald Trump. Donations and columns are personal acts, not Sequoia or Crankstart investment positions. Moritz has funded TogetherSF/Action, local ballot measures and the for-profit San Francisco Standard while Crankstart grants heavily in the Bay Area. Supporters emphasize government effectiveness and revived local journalism; critics question concentrated donor influence and potential conflicts. Standard journalists report no direct editorial constraint and the outlet publishes an ethics policy. Moritz is one of several personal backers of California Forever's proposed Solano County development. Secretive early land purchases, lawsuits and development impacts drew resident and official criticism; inclusion records his backing, not agreement with every project action.
From Michael's own website — common ground for a warm intro.
Board director at TrialSpark
Intro paths
In turn, Michael can intro founders to TrialSpark's investors below.
TrialSpark's investors · 7
Co-founders at TrialSpark

Board director at Maplebear Inc.
Intro paths
In turn, Michael can intro founders to Maplebear Inc.'s investors below.
Maplebear Inc.'s investors · 4
Co-founders at Maplebear Inc.
Board director at StripeYC S09
Intro paths
Michael went through Y Combinator (Summer 2009) — any YC alum in your network can reach them through the YC community.
In turn, Michael can intro founders to Stripe's investors below.
Stripe's investors · 65
Co-founders at Stripe
Experience
- Sequoia HeritageSenior Advisor, Sequoia Heritagecurrent2023 — present
- Sequoia CapitalPartnercurrent1986 — present
- Sequoia CapitalPartner1986 — 2023
- CrankstartChairmancurrent2005 — presentSan Francisco, California, United States
Skills & more
From Michael's professional profile.
Deals · 5
Klarna Group plcBoard seat
via Sequoia Capital · filed Dec 2024 · $4.3M raise
TrialSparkBoard seat
via Sequoia Capital · filed Jul 2024 · $512M raise
Maplebear Inc.Board seat
via Sequoia Capital · filed Nov 2021 · $290M raise
Pocket Outdoor MediaBoard seat
via Sequoia Capital · filed Mar 2021 · $155M raise
Berkeley LightsBoard seat
via Sequoia Capital · filed Nov 2016 · $40M raise
Attribution from SEC filings, press coverage, and firm rosters.
Other disclosed investments
Board seats
24/7 CustomerA123 SystemsAricent GroupAtom EntertainmentCenterRunEarth NetworkseGroupsFlextronicsFormation BioGameflyGoogleGreen DotGreen Dot CorporationHealthCentralInstacartInstacartITA SoftwareKayak.comKlarnaLinkedInLuximPayPalPaypal CorpPlaxoPopSugarPure DigitalSaba SoftwareStravaStripeStripeWatershedYahooZappos
Investor
[24]7.aiCalifornia ForevereToysFormation BioGetirGoogleGreen DotInstacartKAYAKKlarnaLinkedInLinkExchangePaypal CorpPOPSUGARSkyscannerStripeWatershedWebvanYahooYahoo!YouTubeZappos
Sources: curated public sources · SEC Form D filings.
Founder fit — who Michael backs
Best fit historically: independent, obsessive founders with original ideas, working products or unmistakable user pull; young or unconventional teams able to explain a large ambition simply; leaders willing to withstand contrary opinion, recruit stronger colleagues and build for decades. He values depth, clarity, hunger, curiosity and an authentic relationship to the problem more than polished credentials.
Historically weak fits include consensus-shaped pitches, jargon replacing understanding, capital-intensive national rollout before local proof, dependence on Wall Street's willingness to fund losses, businesses requiring rapid mass behavior change without evidence, founders pursuing status rather than product, and teams unable to communicate or learn. His Netflix and Uber misses show that unfamiliar initial forms can also cause false negatives.
How to pitch
Explain the problem from first principles, demonstrate unusual knowledge, show the product and real user behavior, and tell a concise story that recruits employees and customers as well as capital. Define the first narrow proof point, capital required before it, why the opportunity can compound for a decade, and what you still do not know. Current outreach should recognize that Moritz left Sequoia's venture practice; this is historical/editorial guidance, not a live submission policy.
Stages: seed, early stage, select growth, public/personal long-term investment · Sectors: internet and search, consumer technology, financial technology and payments, marketplaces, enterprise software, media, climate software, global technology
Editorial inference from Michael's portfolio, writing and public record — not a published mandate.
Investment themes
9 documented themes from Michael's essays, talks and portfolio, grouped by what they say about founders.
▶More themes7
Learn fast without false expertise2016
His Oxford and journalism analogy emphasizes disciplined curiosity and decisions from incomplete information rather than pretending to possess permanent sector expertise.
For founders: Teach the investor something specific while showing how you update beliefs.
Look for the unexpected2016
Airbnb and DJI illustrate opportunities that did not fit conventional category buckets at entry.
For founders: Explain why the odd initial shape contains a much larger future rather than forcing a familiar label.
Narrative is operating infrastructure2025
Moritz argues founders need a clear story to persuade themselves, co-founders, employees, customers, investors and press; it is not cosmetic pitchcraft.
For founders: Build a truthful narrative with a distant summit and credible near missions.
Start infernos with one match1995
His Yahoo-era formulation favored small initial capital and large effects; Webvan later reinforced the danger of financing expansion before proof.
For founders: Show the smallest amount of capital that establishes a repeatable formula.
Renew teams across generations2015
His collaboration with Alex Ferguson highlights selection, standards, delegation, transition and rebuilding before decline becomes obvious.
For founders: Design succession and talent renewal as continuous operating work.
Technology leadership is not permanently American2015
Moritz argued that Chinese and other non-U.S. companies could lead the next technology era and helped Sequoia globalize; later geopolitical controversy requires separating his thesis from every affiliate investment.
For founders: Build from local insight toward global quality without assuming U.S. incumbency.
Talent is distributed; opportunity is not2012
Oxford access giving and Crankstart's mission apply his long-horizon institution-building lens to education and mobility.
For founders: For mission-driven work, connect resource allocation to durable access rather than prestige alone.
▶Founders & company building1
Depth, clarity and hunger2026
He identifies unusual understanding, clear communication and an irrepressible drive to make the product real as core entrepreneurial traits.
For founders: Demonstrate command, explain simply and show sustained action.
▶Governance & network states1
Preserve independence until the reason is compelling2002
PayPal rejected pressure and went public before accepting eBay's later offer; Moritz called Google a justified savior for YouTube because copyright threats were existential.
For founders: Treat acquisition as a strategic decision about mission and survival, not an automatic victory.
Books by Michael Moritz
Podcasts & interviews
featuring Michael MoritzSir Michael Moritz in conversation with Richard Ovenden
Bodleian Libraries, University of Oxford · visit.bodleian.ox.ac.uk
Judgement, Compounding and the Weight of History
Money Maze Podcast · moneymazepodcast.com
The $1.4 Billion Advice from Michael Moritz, Chairman of Sequoia Capital #shorts #letstokpodcast
LetsTok - Enriching lives through a Podcast
Michael Moritz, Sequoia Capital partner
Startup Cat
Fireside Chat with Michael Moritz: Trends in VC Investment: How did we get here?
The Justice Department
Michael Moritz, Partner, Sequoia Capital
Stanford Graduate School of Business
6 more appearances
- Michael Moritz: Follow Your Instincts and Find Your Path [Entire Talk]2016-01-27
- Follow Your Instincts and Find Your Path2016-01-20
- Sequoia's Michael Moritz: Look out for the Unexpected2016-01-01
- A Conversation on the State of Stripe2014-06-09
- A Conversation on Philanthropy with Bill Gates and Sir Michael Moritz2013-10-15
- Mike Moritz oral-history interview2013-04-02
Writing
Memoir tracing his parents' escape from Nazi Germany, murdered relatives, outsider identity and contemporary warnings about authoritarianism. U.S. edition followed in September 2026.
Opinion urging business leaders to oppose destabilizing Trump administration policies.
Public governance letter defending Green Dot's board and management during an activist proxy contest.
Financial Times argument for global, especially Chinese, technology strength; disclosed Sequoia interests.
Collaboration with Sir Alex Ferguson on leadership, standards, teams, transition, adversity and institutional endurance; U.S. edition metadata uses 2016.
Sequoia essay on data factories, democratized tools and technology-driven disruption.
4 more posts
- The Little Kingdom: The Private Story of Apple Computer1984-01-01
- The Computer Moves In1983-01-03
- The Updated Book of Jobs1983-01-03
- Going for Broke: The Chrysler Story1981-01-01
Network2
Investors connected to Michael in public investor directories — a warm-intro map.
Frequently asked questions
- What is Michael Moritz's current role?
- He is Senior Advisor to HRTG Partners, the independent private-investment partnership formerly called Sequoia Heritage, and chairman of Klarna Group plc. His Instacart board term ended at the 2026 annual meeting.
- When did he lead and leave Sequoia?
- Published sources date his co-leadership with Doug Leone from 1995 or the formal 1996 succession. He relinquished day-to-day management in 2012 for health reasons, remained chairman/partner and left the venture partnership effective July 19, 2023.
- Which investments are most clearly Moritz-led?
- Strong first-person, issuer or Sequoia evidence supports Yahoo, X.com/PayPal, Google, Zappos, Kayak, Klarna, Stripe and Instacart. LinkExchange, [24]7.ai, Green Dot, Watershed and Getir have official partner/board attribution with less deal-level detail.
- Did Michael Moritz lead Sequoia's YouTube investment?
- No. Roelof Botha originated the investment, wrote the memo and served on YouTube's board. Moritz led Sequoia and sat on Google's board, and later defended the acquisition, but those facts do not make the deal his.
- Did he originate LinkedIn's Sequoia investment?
- Sequoia's archive lists Moritz as a partner, but Mark Kvamme held the board seat from the 2003 first outside investment. Moritz replaced Kvamme in January 2011 and served until June 2016, so sole origination is not claimed.
- What failed investments and misses has he acknowledged?
- Webvan is his clearest self-described failure; eToys also lost money. He regretted passing on Netflix and said he underestimated Uber's potential. Exact Sequoia fund losses and his personal economics are not public.
- What does he look for in founders?
- Unusual depth of understanding, clear communication, irrepressible hunger, originality, real product or user evidence, rapid learning and the ability to tell a compelling long-term story.
- How should a founder pitch him?
- Historically: explain the problem simply, show unusual knowledge and real behavior, define the smallest repeatable proof point, address capital intensity and tell a story capable of recruiting a company. He is no longer a Sequoia venture partner, so this is not current submission guidance.
- What happened in the 2024 Klarna board dispute?
- A Sequoia representative requested Moritz's removal as chairman amid internal governance disputes. Sequoia withdrew the request after fuller assessment, apologized, supported him and replaced its representative. Moritz remained chair through Klarna's 2025 IPO and 2026 AGM.
- Why were his comments about women in venture criticized?
- In 2015 he linked Sequoia's all-male investing partnership to a pipeline problem and said it would not lower standards, language critics said falsely framed diversity as a standards trade-off. He then clarified that many remarkable women would flourish in venture and that Sequoia wanted to hire them.
- What are Crankstart's priorities?
- The family foundation focuses on economic mobility, education, housing, democracy and civil rights, environment/climate, basic science and arts, with about 60% of grants in the Bay Area. It is separate from Sequoia, HRTG and Moritz's personal investments.
- What books has he written?
- Going for Broke with Barrett Seaman (1981), The Little Kingdom (1984), its revised Return to the Little Kingdom (2009), Leading with Sir Alex Ferguson (2015; U.S. 2016), and the family memoir Ausländer (2026).
- What is publicly known about his family background?
- He was born in Cardiff in 1954 to German-Jewish refugees Alfred/Ludwig and Doris Moritz, is married to author and sculptor Harriet Heyman, and public sources identify two sons. Ausländer documents the refugee and Holocaust history; unnecessary private details are excluded.
- Who is Michael Moritz?
- Michael Moritz began as a Time journalist who wrote an early book on Apple, then joined Sequoia Capital in 1986 and backed Google, Yahoo, PayPal, and Stripe. He served as one of Sequoia's leaders alongside Doug Leone before stepping away from the firm in 2023 after nearly four decades. He now advises Sequoia Heritage, the independent wealth-management office he helped launch, and funds large-scale philanthropy through Crankstart.
Paths to reach Michael
People who overlapped with Michael at the same organization — a shared school or employer with one of them is a warm way in.
Together at Sequoia HeritageMichael: Senior Adviser
Together at Sequoia CapitalMichael: Partner
Together at TrialSparkMichael: Director
Together at StripeMichael: Director
Together at Maplebear Inc.Michael: Director
Same school
Also attended University of Oxford990
+ 984 more
Shared employers
Also worked at Sequoia Capital191
+ 185 more









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