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REVEALED: Lightspeed Venture Partners' Returns & Strategy from Confidential Fundraising Slides
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REVEALED: Lightspeed Venture Partners' Returns & Strategy from Confidential Fundraising Slides

I've got my hands on slides from Lightspeed's $7 billion fundraising effort

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Eric Newcomer
Feb 13, 2025
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REVEALED: Lightspeed Venture Partners' Returns & Strategy from Confidential Fundraising Slides
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This slide shows the key holdings of Lightspeed’s middle stage “Select” funds

Lightspeed Venture Partners — a Silicon Valley venture capital firm focused on enterprise investing — has built one of the most successful venture franchises in the world.

The firm has big bets riding on Wiz, Grafana Labs, Navan, Glean, Anthropic, Anduril, and Stripe. The firm saw one of its key portfolio companies, Rubrik, go public last year during an otherwise sleepy time for tech exits.

Altogether, Lightspeed has returned $8 billion from current and active funds in the past five years, with more than $3 billion of that coming last year, sources tell me.

Now the firm is in the process of raising $7 billion for a suite of new funds.

I’ve got my hands on the fundraising deck from this quarter that details Lightspeed’s strategy, key past winners, and investment terms. And I can exclusively reveal Lightspeed’s performance since it spun out of Weiss, Peck & Greer Venture Partners.

This is a landmark moment. We’re getting a real sense for how a top megafirm is actually performing.

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