Moritz to step back from Sequoia due to “incurable” medical condition


Sequoia Capital partner Michael Moritz is taking a step back from his duties at the Silicon Valley-based venture capital firm due to an “incurable” medical condition.

Although the exact details of the condition were not disclosed, Moritz, 57, said the “rare condition” could be managed and that he would continue to make investments and sit on the boards of the firm’s portfolio companies.

Moritz made his name with early investments in Google and Yahoo, where he served as a director of both companies during the early years of their development. A former Times journalist, he has also served as a director of Flextronics and PayPal.

“We have always tried to be straightforward with you and, in that spirit, I need to share something,” Moritz said in a letter to the firm’s limited partners.

“I’ve been told that in the next five to ten years the quality of my life is quite likely to decline. Right now I feel fitter than ever and I hope that I’ll be one of the lucky ones who can live a full life and defy the statisticians.

“But there is no way of predicting this with certainty and thus for me, life has assumed a different meaning and I am making some adjustments.”

Copyright © 2012 AltAssets