Lightspeed Venture Partners — an investor in the likes of Snap, Nest and Stripe — is raising money for three latest funds that may total about $7 billion, The Information reported.
The amount is even higher than the firm raised for its last batch of funds in 2022, when it raised $6.7 billion for three funds, per Crunchbase.
About 40% of the money will likely be for a continuation fund to speculate in its existing portfolio firms — which the Financial Times reported on back in January — per the latest report.
The remainder of the money could possibly be ticketed for each a growth-stage fund and one that concentrates on seed and Series A firms, in line with the report.
News of the latest mega-fund comes after several peers raised massive latest funds. In March, Andreessen Horowitz raised $7.2 billion for its latest funds. similarly, last month it was reported Insight Partners was closing in on a latest $10 billion-plus fund.
Lightspeed’s deals
Like many firms, Lightspeed slowed its investment pace in 2023, but has been relatively energetic this yr. The firm has made 75 deals so far in 2024 — per Crunchbase — in comparison with 88 for all of last yr.
Just recently, Lightspeed led New York-based Grafana Labs‘ $270 million round that values the company at $6 billion. Grafana’s open-source software platform helps monitor and visualize data.