Sequoia expels the Yalies

Sequoia Capital, the top-dog Sand Hill Road venture capital firm, has kicked out Yale University from its stable of investors, or "limited partners," as they're known in the business. Why? The Ivy Leaguers don't want to participate in Sequoia's international and late-stage funds, just its hot startup money pools. According to a memo obtained by the Wall Street Journal, Sequoia is looking for partners who will pony up a "blank check", not partners who will dictate where their money is spent. No word on if Neil Shen and Chris Olsen, both Yale alumni and Sequoia employees, have gotten dunned by university fundraisers to make up for the shortfall.