Lightspeed Venture Partners Looking To Raise $7B For New Funds — Report

Lightspeed Venture Partners — an investor within the likes of Snap, Nest and Stripe — is elevating cash for 3 new funds that may whole about $7 billion, The Information reported.

The quantity is even larger than the agency raised for its final batch of funds in 2022, when it raised $6.7 billion for 3 funds, per Crunchbase.

About 40% of the cash might be for a continuation fund to put money into its current portfolio firms — which the Financial Times reported on back in January — per the brand new report.

The remainder of the cash could possibly be ticketed for each a growth-stage fund and one which concentrates on seed and Sequence A firms, in accordance with the report.

Information of the brand new mega-fund comes after a number of friends raised large new funds. In March, Andreessen Horowitz raised $7.2 billion for its new funds. Equally, final month it was reported Insight Partners was closing in on a brand new $10 billion-plus fund.

Lightspeed’s offers

Like many corporations, Lightspeed slowed its funding tempo in 2023, however has been comparatively lively this yr. The agency has made 75 offers up to now in 2024 — per Crunchbase — in comparison with 88 for all of final yr.

Only recently, Lightspeed led New York-based Grafana Labs’ $270 million spherical that values the corporate at $6 billion. Grafana’s open-source software program platform helps monitor and visualize knowledge.

Associated studying:

Illustration: Dom Guzman