Lightspeed Venture Partners

Lightspeed Venture Partners
Founded2000
FounderChris Schaepe
Barry Eggers
Ravi Mhatre
Peter Nieh
HeadquartersMenlo Park, California, United States
Total assetsOver $4 billion
Websitewww.lsvp.com

Lightspeed Venture Partners is an American venture capital firm focusing on early stage investments in the enterprise technology and consumer space.[1] To date, the firm has backed more than 300 companies, including Snapchat (Snap Inc.), DoubleClick (acquired by Google after IPO), AppDynamics (acquired by Cisco for $3.7B), Brocade (BRCD),[1] 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),[6] Informatica (INFA), Fastfox[7][8][9] and Solazyme (SZYM).[10]

The company invests in the U.S. and abroad, with investment professionals and advisors in Silicon Valley, Israel, India with Lightspeed India Partners and China with Lightspeed China Partners. The team is currently investing out of Lightspeed XI, a $700 million fund and Select II, a $500 million fund.[11]

History

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. As of 2012 the firm had over $3 billion in committed capital.[12]

In March 2016, the company raised two new funds totaling in $1.2 billion.[13]

Snapchat raised $485,000 in its seed round and an undisclosed amount of bridge funding from Lightspeed Ventures in 2012.[14] 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%.[15]

In 2018, Neetzan Zimmerman joined as vice president of growth.[16] In April 2020, Lightspeed Venture Partners raised $ 4.2 billion across three funds: $890 million for its latest early-stage venture fund, a $1.83 billion growth fund for later-stage investments, and a $1.5 billion opportunity fund for doubling down on winners in its international portfolio.[17]

In September 2020, Lightspeed Venture Partners launched its Southeast Asia operations with a new regional headquarters in Singapore.[18]

Significant investments

Summer Fellowship Program

Every year, Lightspeed offers summer fellowships to support innovation by rising student entrepreneurs. Weekly speakers and angel investors are brought in as guest speakers, and on the start-up experience. 2018 was the program’s twelfth year. Notable participants of Lightspeed's Fellowship program include Ben Silbermann, Founder and CEO of Pinterest, Akshay Ramaswamy, CEO of Alma Campus, and Bobby Murphy, Founder and CTO of Snapchat.[46]

References

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  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 c "Crunchbase Lightspeed Venture Partners". Retrieved 2013-02-25.
  7. ^ Sandilya, Sanu (2017-04-06). "Home rental startup FastFox gets Rs 30 crore from Lightspeed, 2 others". The Economic Times. Retrieved 2017-06-23.
  8. ^ "India Dealbook: FastFox gets $4.6m from Lightspeed, others; DataWeave fundraise - DealStreetAsia". www.dealstreetasia.com. Retrieved 2017-06-23.
  9. ^ "FastFox | crunchbase". www.crunchbase.com. Retrieved 2017-06-23.
  10. ^ "Who Wins in the Solazyme IPO?". Retrieved 2013-02-25.
  11. ^ "Bloomberg: Lightspeed Raising $875M for U.S., China Funds". Retrieved 2013-02-25.
  12. ^ "Business Insider: How to Remain King of the World amidst Titanic Disruptions". Retrieved 2013-02-25.
  13. ^ Loizos, Connie. "Lightspeed Venture Partners Raises $1.2 Billion". TechCrunch. Retrieved 2016-04-05.
  14. ^ 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.
  15. ^ 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
  16. ^ Lightspeed adds five partners and a growth guru in one fell swoop
  17. ^ Konrad, Alex. "VC Firm Lightspeed Raises $4 Billion In Startup Landscape Shaken By COVID-19". Forbes. Retrieved 2020-04-30.
  18. ^ "Lightspeed announces the launch of its Southeast Asia operations". TechCrunch. Retrieved 2020-09-17.
  19. ^ *"Aqua Security raises $25 mln, brings total to date to $38.5 mln". Reuters. September 19, 2017.
  20. ^ *Kawamoto, Dawn (January 2, 2002). "Blue Nile raises $7 million". CNET.
  21. ^ *Sharma, Samidha (March 28, 2017). "Byju's gets fresh funds, this time from Belgium's Verlinvest". The Times of India.
  22. ^ *Bansal, Varsha (June 20, 2017). "Darwinbox raises $4M funding led by Lightspeed". Economic Times.
  23. ^ *Perez, Sara (September 26, 2012). "Kids App Maker Duck Duck Moose Raises $7M Series A From Sequoia, Lightspeed & Others". TechCrunch.
  24. ^ *Hussain, Shariq (April 7, 2017). "Real-estate Startup FastFox raises Series A Funding from LightSpeed". Indian CEO.
  25. ^ *Olsen, Stefanie (April 4, 2008). "Flixster brings in millions to boost movie-ratings network". CNET.
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  27. ^ *Wauters, Robin (April 18, 2011). "Walmart Ventures Into The Social Media Space With Acquisition Of Kosmix". TechCrunch.
  28. ^ *D'Onfro, Jillian (April 17, 2019). "Moveworks raises $30 million to automate IT support". Forbes.
  29. ^ *WIlliams, Alex (October 7, 2013). "Numerify's Stealth Mode Status Poses A Paradox For The Cloud Analytics Company". TechCrunch.
  30. ^ *Sharma, Samidha (April 24, 2017). "Oyo halves SoftBank-led latest round size to $250 million". The Times of India.
  31. ^ *Clancy, Heather (May 14, 2015). "Percolate, a marketing software startup, raises $40 million to make the CMO's life simpler". Fortune.
  32. ^ *Primack, Dan (April 20, 2016). "Term Sheet — Wednesday, April 20". Fortune.
  33. ^ *TAKAHASHI, Dean (July 27, 2010). "Disney buys social game firm Playdom for up to $763.2M". VentureBeat.
  34. ^ *Savitz, Eric (May 16, 2011). "SanDisk Agrees To Buy Pliant Technology For $327 Million". Forbes.
  35. ^ *Azzano, Michael (November 12, 2013). "Ripple Labs Announces $3.5 Million Investment Round". Marketwired.
  36. ^ *Mhatre, Ravi (May 9, 2016). "Meet the founder behind Rubrik, one of Lightspeed's biggest investments to date". Medium.
  37. ^ *Darrow, Barb (August 13, 2014). "Identity and access management landgrab continues with massive Sailpoint funding". Gigaom.
  38. ^ *Eldon, Erik (February 11, 2010). "Zynga Acquires Serious Business, Gets Even Bigger". Adweek.
  39. ^ *Shontell, Alyson (March 2, 2017). "How Snapchat's first investor — whose stake is now worth $2 billion — found Snapchat when it had less than 100,000 users". Business Insider.
  40. ^ *ELUVANGAL, SREEJIRAJ (April 23, 2012). "Pearson takes control of TutorVista for Rs577 crore". Business Wire.
  41. ^ *Vance, Ashlee (June 29, 2017). "SpaceX Vet's Startup Readies Small Rockets for Takeoff". Bloomberg.
  42. ^ http://www.sebi.gov.in/sebi_data/attachdocs/jun-2017/1497957899070.pdf
  43. ^ "Yellow Messenger raises $20 million Series B from Lightspeed Venture Partners". The Economic Times. 2020-04-16. Retrieved 2020-04-30.
  44. ^ *Marshall, Matt (January 19, 2011). "EMC's buy of XtremIO for $400M could spur M&A rush in flash storage". Daily News and Analysis.
  45. ^ https://www.crunchbase.com/organization/unilodgers#section-overview
  46. ^ "The Lightspeed Summer Fellowship Program Explained". Retrieved 2013-02-25.

External links