MENLO PARK, Calif., March 9, 2016 /PRNewswire/ -- Early stage venture capital firm Lightspeed Venture Partners ("Lightspeed") today announced the closings of Lightspeed Venture Partners XI, L.P. ("Fund XI") with $715 million of committed capital and Lightspeed Venture Partners Select II, L.P. ("Select Fund II") with $500 million of committed capital.
The new core fund is a continuation of Lightspeed's focus on supporting exceptional entrepreneurs in the Enterprise and Consumer sectors primarily in Seed, Series A and Series B rounds. For over two decades, Lightspeed partners have backed over 250 entrepreneurs that have pioneered and led new markets including, AppDynamics, DataStax, Fusion-io, Giphy, Grubhub, The Honest Company, MuleSoft, Nest, Nicira, Nimble Storage, Nutanix, Riverbed, Snapchat, SolarEdge, Stitch Fix, Tintri and XtremIO.
Select Fund II will complement the firm's core fund strategy by supporting follow-on rounds primarily in the existing Lightspeed 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 partners of Lightspeed represent decades of company-building experience with technical expertise and a deep global network of relationships to help innovators bring their ideas to market. Lightspeed has been successful in helping many first-time CEOs scale their businesses from the earliest stages of development to successful exit and beyond. The partners pride themselves on providing a high level of service to portfolio companies and becoming trusted advisors over the long term. Through its international relationships with Lightspeed India Partners and Lightspeed China Partners, the firm is able to help its portfolio companies tap into the talent and large market opportunities in those important geographies.
Lightspeed currently manages over $4 billion of committed capital and is headquartered in Menlo Park, CA with investment Partners in Israel.
More information can be found at lsvp.com
SOURCE Lightspeed Venture Partners