Lightspeed Venture Partners

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Lightspeed Venture Partners
Founded 2000
Founder Chris Schaepe, Barry Eggers, Ravi Mhatre, and Peter Nieh
Headquarters Sand Hill Road
Menlo Park, California, United States
Key people
Andrew Moley, Arif Janmohamed, Barry Eggers, Bejul Somaia, Bipul Sinha, Chris Schaepe, David Dubick, David Gussarsky, Jeremy Liew, John Vrionis, Justin Caldbeck, Peter Nieh, Ravi Mhatre, Yoni Cheifetz
Total assets Over $3 billion
Website www.lsvp.com

Lightspeed Venture Partners is a venture capital firm focusing on early and expansion stage investments in the consumer, enterprise technology and cleantech markets.[1]

Lightspeed Venture Partners has backed more than 200 companies, including Brocade (BRCD),[1] DoubleClick (acquired by Google after going public), Nicira (acquired by VMware),[2] Playdom (acquired, DIS),[3] Pliant Technology (acquired, SanDisk),[4] XtremeIO (acquired, EMC),[5] Blue Nile (NILE),[6] Fusion-io (FIO),[6] Phone.com (OPWV),[7] Informatica (INFA), and Solazyme (SZYM).[8] The fund has 24 early stage enterprise investments that have gone public, the most of any fund in the world.[citation needed]

Lightspeed Venture Partners invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, India, Israel, and China with Lightspeed China Partners. The team is currently investing out of Lightspeed X, a $1 billion fund.[9]

History[edit]

The firm was founded in October 2000 by Chris Schaepe, Barry Eggers, Ravi Mhatre, and Peter Nieh. All four were formerly a part of the investment firm Weiss, Peck & Greer and left to start Lightspeed following the sale of the investment management business to Robeco.

In 2014, Lightspeed closed Lightspeed X, a $1 billion fund focused on the Enterprise, Consumer and Cleantech markets. Today the firm has over $3 billion in committed capital.[10]

In March, 2016 Lightspeed raised two new funds totaling in $1.2 billion.[11]

Snapchat raised $485,000 in its seed round and an undisclosed amount of bridge funding from Lightspeed Ventures in 2012.[12] Beyond the two Snap founders, the two biggest shareholders for the planned early 2017 Snap IPO were Benchmark and Lightspeed Venture Partners, both prior Snap investors and venture-capital firms from Silicon Valley. They held a combined stake of about 20%.[13]

Significant investments[edit]

Summer Fellowship Program[edit]

Every year, Lightspeed offers summer fellowships to support entrepreneurship and innovation among highly motivated engineering and computer science students. Weekly speakers and angel investors are brought in to share their insights and offer further advice about the start-up experience. 2015 will be the program’s 9th year running. Notable participants of Lightspeed's Fellowship program include Ben Silberman, Founder and CEO of Pinterest and Bobby Murphy, Founder and CTO of Snapchat.[16]

References[edit]

  1. ^ a b "Crunchbase". Retrieved 2013-02-25. 
  2. ^ "VMware Buys Nicira For $1.26 Billion And Gives More Clues About Cloud Strategy". Retrieved 2013-02-25. 
  3. ^ "Disney buys social game firm Playdom for up to $763.2M". Retrieved 2013-02-25. 
  4. ^ "Pliant Technology Receives $8 Million in Series A Funding". Retrieved 2013-02-25. 
  5. ^ "XtremIO Adds Lightspeed Venture Partners to Series B Funding for Scale-out Enterprise Flash Storage Array". Retrieved 2013-02-25. 
  6. ^ a b "Crunchbase Lightspeed Venture Partners". Retrieved 2013-02-25. 
  7. ^ "Crunchbase Lightspeed Venture Partners". Retrieved 2013-02-25. 
  8. ^ "Who Wins in the Solazyme IPO?". Retrieved 2013-02-25. 
  9. ^ "Bloomberg: Lightspeed Raising $875M for U.S., China Funds". Retrieved 2013-02-25. 
  10. ^ "Business Insider: How to Remain King of the World amidst Titanic Disruptions". Retrieved 2013-02-25. 
  11. ^ Loizos, Connie. "Lightspeed Venture Partners Raises $1.2 Billion". TechCrunch. Retrieved 2016-04-05. 
  12. ^ Gallagher, Billy (October 29, 2012). "You Know What's Cool? A Billion Snapchats: App Sees Over 20 Million Photos Shared Per Day, Releases On Android". TechCrunch. Retrieved December 22, 2012. 
  13. ^ Winkler, Rolfe (February 3, 2017), Snap IPO Will Mint Fortunes for Founders, Two Big Investors, New York City: Wall Street Journal, retrieved January 4, 2017 
  14. ^ "Fortune: Percolate, a marketing software startup, raises $40 million to make the CMOs life simpler"
  15. ^ http://fortune.com/2016/04/20/term-sheet-wednesday-april-20/
  16. ^ "The Lightspeed Summer Fellowship Program Explained". Retrieved 2013-02-25. 

External links[edit]