Sequoia Capital consolidates, closes London office, raises $10B

• Sequoia Capital is closing its London office and consolidating into a Bay Area-centered firm.
• The firm is shutting down programs and offices built during a 20-year expansion.
• Sequoia Capital is flattening its management structure to reduce bureaucracy.
• The VC firm has announced roughly $10 billion in new funds.
• The closure of the London office is a setback for the UK's AI industry ambitions.