Lightspeed Venture Partners

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, Peter Nieh, Ravi Mhatre, Yoni Cheifetz, Brian Kasser, Michael Romano, Sudip Chakrabarti, Nakul Mandan, Will Kohler, Nicole Quinn, Meredith Kendall, Aaron Batalion, Alex Taussig, Tal Morgenstern
Total assets Over $4 billion
Website www.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 fund has 24 early stage enterprise investments that have gone public, the most of any fund in the world.

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]

Significant investments

Summer Fellowship Program

Every year, Lightspeed offers summer fellowships to support entrepreneurship and innovation by engineering and computer science students. Weekly speakers and angel investors are brought in as guest speakers, and on the start-up experience. 2016 was the program’s tenth year. Notable participants of Lightspeed's Fellowship program include Ben Silberman, Founder and CEO of Pinterest and Bobby Murphy, Founder and CTO of Snapchat.[41]

References

  1. 1 2 "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. 1 2 3 "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. ↑
    • "Aqua Security raises $25 mln, brings total to date to $38.5 mln". Reuters. September 19, 2017.
  17. ↑
    • Kawamoto, Dawn (January 2, 2002). "Blue Nile raises $7 million". CNET.
  18. ↑
    • Sharma, Samidha (March 28, 2017). "Byju's gets fresh funds, this time from Belgium's Verlinvest". The Times of India.
  19. ↑
    • Bansal, Varsha (June 20, 2017). "Darwinbox raises $4M funding led by Lightspeed". Economic Times.
  20. ↑
    • Perez, Sara (September 26, 2012). "Kids App Maker Duck Duck Moose Raises $7M Series A From Sequoia, Lightspeed & Others". TechCrunch.
  21. ↑
    • Hussain, Shariq (April 7, 2017). "Real-estate Startup FastFox raises Series A Funding from LightSpeed". Indian CEO.
  22. ↑
    • Olsen, Stefanie (April 4, 2008). "Flixster brings in millions to boost movie-ratings network". CNET.
  23. ↑
    • Britton, Jenna (August 2, 2012). "FiveStars Raises $13.9 Million From Lightspeed Venture Partners and DCM". Businesswire.
  24. ↑
    • Wauters, Robin (April 18, 2011). "Walmart Ventures Into The Social Media Space With Acquisition Of Kosmix". TechCrunch.
  25. ↑
    • WIlliams, Alex (October 7, 2013). "Numerify's Stealth Mode Status Poses A Paradox For The Cloud Analytics Company". TechCrunch.
  26. ↑
    • Sharma, Samidha (April 24, 2017). "Oyo halves SoftBank-led latest round size to $250 million". The Times of India.
  27. ↑
    • Clancy, Heather (May 14, 2015). "Percolate, a marketing software startup, raises $40 million to make the CMO's life simpler". Fortune.
  28. ↑
    • Primack, Dan (April 20, 2016). "Term Sheet — Wednesday, April 20". Fortune.
  29. ↑
    • TAKAHASHI, Dean (July 27, 2010). "Disney buys social game firm Playdom for up to $763.2M". VentureBeat.
  30. ↑
    • Savitz, Eric (May 16, 2011). "SanDisk Agrees To Buy Pliant Technology For $327 Million". Forbes.
  31. ↑
    • Azzano, Michael (November 12, 2013). "Ripple Labs Announces $3.5 Million Investment Round". Marketwired.
  32. ↑
    • Mhatre, Ravi (May 9, 2016). "Meet the founder behind Rubrik, one of Lightspeed's biggest investments to date". Medium (website).
  33. ↑
    • Darrow, Barb (August 13, 2014). "Identity and access management landgrab continues with massive Sailpoint funding". Gigaom.
  34. ↑
    • Eldon, Erik (February 11, 2010). "Zynga Acquires Serious Business, Gets Even Bigger". Adweek.
  35. ↑
    • 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.
  36. ↑
    • ELUVANGAL, SREEJIRAJ (April 23, 2012). "Pearson takes control of TutorVista for Rs577 crore". Business Wire.
  37. ↑
    • Vance, Ashlee (June 29, 2017). "SpaceX Vet's Startup Readies Small Rockets for Takeoff". Bloomberg.
  38. ↑ http://www.sebi.gov.in/sebi_data/attachdocs/jun-2017/1497957899070.pdf
  39. ↑
    • Konrad, Alex (May 5, 2015). "How Lightspeed VC Jeremy Liew Looks For The Next Bonobos And Snapchat". Forbes.
  40. ↑
    • Marshall, Matt (January 19, 2011). "EMC's buy of XtremIO for $400M could spur M&A rush in flash storage". Daily News and Analysis.
  41. ↑ "The Lightspeed Summer Fellowship Program Explained". Retrieved 2013-02-25.

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