Menlo Park, CA–based early stage venture capital firm Lightspeed Venture Partners announced the closings of two funds at $1.2 billion.
In details, the funds are:
– Lightspeed Venture Partners XI, L.P., a $715m core vehicle continuing the firm’s focus on supporting companies in the Enterprise and Consumer sectors primarily in Seed, Series A and Series B rounds.
– Lightspeed Venture Partners Select II, L.P., a $500m vehicle that will complement Fund XI by supporting follow-on rounds primarily in the existing portfolio as well as additional new investments in companies that have demonstrated product-market fit with compelling value propositions aimed at large markets.
Lightspeed’s strategy is to be the early lead institutional investor in startups with high growth potential in markets capable of supporting the creation of large, valuable enterprises. The firm has backed over 250 companies including, AppDynamics, DataStax, Fusion-io, Giphy, Grubhub, The Honest Company, MuleSoft, Nest, Nicira, Nimble Storage, Nutanix, Riverbed, Snapchat, SolarEdge, Stitch Fix, Tintri and XtremIO.
Via its international relationships with Lightspeed India Partners and Lightspeed China Partners, the firm supports its portfolio companies in expanding into these large markets.
It currently manages over $4 billion of committed capital.