Roelof Botha steps aside as Sequoia’s steward, passing the role to Alfred Lin and Pat Grady

After nearly a decade at the helm of Sequoia Capital, Roelof Botha will step aside as “steward” of the legendary Silicon Valley VC firm.

Botha—PayPal’s defining early CFO, who’s now known for backing companies like YouTube , Instagram , and Block—said Tuesday that he will pass the baton to Pat Grady and Alfred Lin.

“They have a fearlessness and resilience that’s necessary to win in this business,” Botha wrote in a letter that the firm post on X. “They do not shy away from difficult conversations, and they roll up their sleeves to company-build—both with founders and within Sequoia.”

Botha, who Fortune profiled last year, has presided over a tumultuous period in the history of Sequoia, which burst into the public most recently when the Financial Times reported that Sequoia COO