Roelof Botha, the leader of Sequoia Capital, is stepping down amid internal leadership concerns following a challenging period for the firm. Botha, who has been in charge since 2022, faced criticism from some partners regarding his leadership style. His departure marks a significant shift for Sequoia, a prominent venture capital firm known for early investments in major tech companies like Apple and Google. Sequoia has struggled recently, having lost its profitable China operations and faced backlash for a poor investment in the cryptocurrency exchange FTX. These setbacks have been compounded by the exit of several high-profile partners. The firm’s leadership recently elected successors to guide it through this turbulent phase, aiming to stabilize and regain its footing in the competitive landscape of Silicon Valley investing.