Blog•Mar 17, 2026
Letter #322: Doug Leone and Assaf Rappaport (2021)
In a candid conversation, Sequoia partner Doug Leone and Wiz CEO Assaf Rappaport discuss Sequoia’s new permanent‑capital fund, its “spiky” founder ethos, and the firm’s expanding European presence. They highlight Wiz’s meteoric rise—from $1 million to $500 million ARR in 18 months—to its $32 billion acquisition by Google. Leone stresses early‑stage partnership over later‑stage investing, while Rappaport explains how COVID accelerated cloud‑security demand and enabled global talent sourcing. The dialogue underscores how venture capital is evolving to support ultra‑fast growth companies in a post‑pandemic world.
