Are venture capital firms finally catching up with the innovation they’ve invested in for decades? Sequoia, one of the oldest and most successful VC firms, announced in October it is fundamentally changing its fund structure. Roelof Botha, a partner at Sequoia, believes this will be a revolutionary shift from an obsolete structure that has hampered growth across the industry. “Once upon a time the 10-year fund cycle made sense,” he says. “But the assumptions it’s based on no longer hold true, curtailing meaningful relationships prematurely and misaligning companies and their investment partner…