Lightspeed Venture Partners is an American venture capital firm that focuses on seed stage, early stage, and growth stage investments in the enterprise, fintech, consumer, and healthcare sectors. The firm operates with eleven offices globally and, as of 2023, had approximately US$35 billion in assets under management. Lightspeed is known for its investments in technology companies, particularly in artificial intelligence infrastructure and applications, as well as enterprise software and consumer platforms.
The firm was founded in 2000 by enterprise founders Barry Eggers, Christopher Schaepe, Ravi Mhatre, and Peter Nieh, who previously worked together at Weiss, Peck & Greer and had attended Stanford University. Since its inception, Lightspeed has grown from a Silicon Valley-focused firm into a global investor with offices across the United States, Israel, India, and Southeast Asia.
History and Global Expansion
Lightspeed opened its first international office in Tel Aviv in 2006, following the addition of Yoni Cheifetz to the firm. This expansion into Israel was followed by the establishment of an India practice in 2008 when Bejul Somaia joined the firm, and later a Singapore office in 2022. For the first decade of its existence, Lightspeed largely remained focused on enterprise software and infrastructure investments, building a reputation as a specialist in these sectors.
The firm's early investment strategy centered on identifying technical founders and backing them at the seed or Series A stage. This approach led to a series of notable investments in companies that would later become major players in their respective markets.
Notable Investments
Lightspeed led the Series A in Riverbed Technology in 2002, which went on to become one of the largest enterprise IPOs in 2006. In 2007, the firm led the Series B of MuleSoft, which IPO'd in 2017 and was acquired by Salesforce for $6.5 billion less than a year later. Lightspeed also led the Series A of AppDynamics in 2008; the company was acquired by Cisco for $3.7 billion in 2017 on the eve of its expected IPO.
The firm led the Series A of Nutanix in 2010, and the company went public in 2017 with its stock soaring more than 130% in its public debut. In 2011, Lightspeed led the Series B of Nest, which was later acquired by Google for $3.2 billion in an all-cash transaction in 2014. That same year, the firm led the Series C of Nicira, which was acquired by VMware a year later for $1.2 billion.
In 2012, Lightspeed became the first venture investor in Snap Inc., a year after Snapchat was launched. Snapchat raised $485,000 in its seed round and an undisclosed amount of bridge funding from Lightspeed in 2012. Lightspeed was the fourth largest shareholder during Snap's IPO in 2017.
Lightspeed led the Series B in Affirm in 2013, which went public in 2021 at nearly a $30 billion market capitalization. The firm also led the Series C of Guardant Health in 2014, which went public in 2018, and led the Series A of Rubrik in 2014, where it remains the largest shareholder. Rubrik was founded by Bipul Sinha, a Venture Partner at Lightspeed. Lightspeed seeded Forty Seven in 2015, and the company was later acquired by Gilead for $4.9 billion in 2020.
More recently, Lightspeed has been the seed investor in Navan, Mistral, ThoughtSpot, Ultima Genomics, and Orca Bio. The firm also led the Series A in AI search company Glean Technologies, the Series A in Grafana, the Series B of B2B marketplace Faire, and the Series C of Cato Networks. In 2018, Lightspeed invested in Multiverse, a British educational technology company, and reinvested in June 2022 as part of a $220 million investment round. In February 2026, the firm invested $70 million in Naboo, a French Mice procurement platform.
Funding and Fundraising
Lightspeed has raised significant capital across multiple funds over the years. In 2014, the firm closed Lightspeed X, a $1 billion fund focused on the Enterprise, Consumer, and Cleantech markets. As of 2012, the firm had $3 billion in committed capital. In March 2016, Lightspeed raised two new funds totaling $1.2 billion.
In April 2020, Lightspeed 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.
In 2022, Lightspeed raised $7.1 billion across four flagship funds, including Lightspeed Venture Partners XIV-A/B, L.P. ("Fund XIV") with $1.98 billion, Lightspeed Venture Partners Select V, L.P. ("Select Fund V") with $2.26 billion, and Lightspeed Opportunity Fund II, L.P. ("Opportunity Fund II") with $2.36 billion of committed capital. Separately, Lightspeed India Partners announced the closing of a $500 million early stage fund ("LSIP Fund IV") as well as a partnership with blockchain firm Lightspeed Faction.
Focus on Artificial Intelligence
In recent years, Lightspeed has increasingly focused on generative AI and machine learning investments, backing companies that build both AI infrastructure and applications. The firm's portfolio includes investments in large language model companies and AI-powered enterprise tools. Lightspeed has been an active investor in the AI ecosystem, supporting founders working on deep learning technologies, neural networks, and transformer architectures.
The firm's AI investments span various sectors, including enterprise search, data analytics, and healthcare technology. Lightspeed's approach to AI investing involves identifying companies that can leverage AI to create durable competitive advantages in their respective markets, from foundational models to vertical applications.
Global Presence and Strategy
Lightspeed operates with a global investment strategy, with offices in major technology hubs across the United States, Israel, India, and Southeast Asia. The firm's international presence allows it to source deals across different markets and support portfolio companies in their global expansion efforts.
The firm's investment philosophy emphasizes partnering with visionary founders early in their journey and providing support through subsequent funding rounds. Lightspeed typically leads or participates in seed, Series A, and growth stage rounds, with a focus on enterprise software, fintech, consumer, and healthcare sectors.
As of 2023, Lightspeed's assets under management of approximately $35 billion position it as one of the larger venture capital firms globally. The firm continues to invest in emerging technologies, with a particular emphasis on AI infrastructure and applications, while maintaining its historical focus on enterprise software and infrastructure.