Lightspeed raises over $7 billion across four funds, launches new ‘crypto native’ team
Venture capital firm Lightspeed announced today that it has secured over $7 billion across four new funds.Venture capital firm Lightspeed announced today that it had secured over $7 billion in capital to be invested across four new funds aimed at"early-stage entrepreneurs across the globe," including one focused on India."crypto-native team” called Lightspeed Faction, which will be led by investors Sam Harrison and Banafsheh Fathieh.
“Faction believes the innovation economy is at the precipice of a significant computing paradigm shift with blockchain companies leading," the announcement stated. The four funds revealed today are called Lightspeed Venture Partners XIV-A/B LP, Lightspeed Venture Partners Select V LP, Lightspeed Opportunity Fund II LP and Lightspeed India Partners Fund IV. The funds closed with $1.98 billion, $2.26 billion, $2.36 billion and $500 million, respectively.
The announcement comes amid a general slowdown in venture capital dealmaking, as the turbulence in equity markets and rising inflation have had ramifications in the private market. As The Block reported previously, May was the© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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