Lightspeed Venture Partners
Lightspeed Venture Partners is a multi-stage VC firm backing bold founders and disruptive innovations from Seed to Series F.
In the firm's own words, from its website.
97 additional team members, 37 additional co-investors and affiliates, 239 additional investments, funds and LPs, 75 events, 111 verified contacts (75 professional url, 35 published business email, 1 firm phone)
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- 15 vehicleson Form D, 18 months
$7.8B reported sold so far.
A Form D is filed when a vehicle takes its first money, so these are open to LPs now.
- 20 companiesnew in 12 months
20 new companies in the last 12 months.
A firm writing cheques this quarter is one a founder can pitch now.
- 2 departurespeople, 12 months
A team member departed (seen on or before 30 Sep 2026, the day it happened is not on record). 2 departures on record in 12 months.
A partner leaving or arriving changes who decides, and who a founder or LP should call.
InferenceVenture organization websites (about, team, portfolio, thesis, news pages)For Founders, LPs, recruitersTeam → - 3 companiesportfolio raising
3 portfolio companies have new financing on record in 6 months without this firm named on the round; the latest on 19 Aug 2026 ($1B round).
A portfolio company raising again is a follow-on decision for the firm and a co-investment opening for others.
- 6 dealswith Khosla Ventures
Invests most often alongside Khosla Ventures (6 shared deals) and Geodesic Investments (4 shared deals).
pair last observed on record 30 Sep 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.
Measuredshared rounds and portfolio companies on recordFor Founders building a round, co-investorsCo-investors →
People to know
View all people- Managing MemberWhy: Named with investment responsibilityNo route on file yet
- Managing MemberWhy: Named with investment responsibilityNo route on file yet
- Managing MemberWhy: Named with investment responsibilityNo route on file yet
Relationship network
406 connected entities33 observed rounds18 repeat counterparties4 dated rounds shown here, 2025 to 2026
From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.
- Sponsor
- Company
- Capital provider
- Fund or vehicle
- Person
›How strength and recency are read
Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
How am I connected?
Name your firm, a company or a person, and DFX finds the published routes to Lightspeed Venture Partners: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.
See how you connect to Lightspeed Venture Partners
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
131 companies on record, 20 new in 12 months
Investments on record
What these amounts mean“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.Acquired, Public, Exited and Active are what the firm’s own portfolio card says, read on the date shown when you hover the chip; they are not deal dates. A company with no chip is one whose card states no outcome: DFX does not assume it is active.| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| AI-native ERP software | portfolio listing | unknown | unknown | unknown | unknown | Sep 30, 2026 | Fact Company website |
| Airbound LSIP Investment | portfolio listing | unknown | unknown | unknown | unknown | Sep 30, 2026 | Fact Firm website |
| Apna LSIP Investment | portfolio listing | unknown | unknown | unknown | unknown | Sep 30, 2026 | Fact Firm website |
Stated thesis versus observed behaviour
- Sectors
- ai, enterprise software, healthcare, hardware, cybersecurity
- Stages
- seed, series a, series b
- Geography
- global, india
- Check size
- not stated; DFX does not estimate checks from round sizes
Team
111 current, 5 departed
Decision makers
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
Investment team
How the team is orderedPartners who lead rounds first (rounds led, then deals attributed, then seniority), then the rest of the investment team, then investor relations, finance and operations. A person named by two sources under two spellings is shown once.- Managing Member · 1 deal attributed
- Managing Member
- Managing Member
4 departed (kept with end dates)
- Christopher James Schaepe · Managing Member · Aug 1, 2005 to Mar 27, 2020 Inference
- Mark Sui · Partner // US · ? to Sep 30, 2026 Inference
- David Baga · Chief Operating Officer · Oct 1, 2019 to Mar 29, 2021 Inference
Contacts
35 published business email, 1 firm phone, 75 professional url on record, each with its source. Values open with the complete profile.
Funds and LPs
59 vehicles, 3 LPs disclosed
Funds and vehicles
What these amounts meanGAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Lightspeed Co-Investment Fund I, L.P. | SPV or co-invest vehicle | 2025 form d first sale | Fundraising | $985M Sep 14, 2026 | 65 | $601M | Dec 16, 2025 |
| Lightspeed Opportunity Fund III, L.P. | Opportunity fund | 2024 form d first sale | Fundraising | $4.3B Sep 14, 2026 | 192 | $3.3B | Dec 16, 2025 |
| Lightspeed Venture Partners Select VI, L.P. | Growth fund | 2024 form d first sale | Fundraising | $2.5B Sep 14, 2026 | 205 | $1.7B | Dec 16, 2025 |
Limited partners
- 3 commitments to 3 funds · $270M disclosed
Known LPs and allocators
What these amounts and dates areEach commitment is counted once across the pension tape and the allocator graph. A commitment date prints only when the source printed one; otherwise the row carries the report date. A foundation’s 990-PF line is a holding at fair value, never a commitment. Rows without a fund on the venture graph are commitments to this manager.| Allocator | Type | Fund | Amount | Date | Source |
|---|---|---|---|---|---|
| California Public Employees' Retirement System | STATE RETIREMENT SYSTEM | LS Investments C, L.P. | $1.5B committed | reported as of Dec 31, 2025 | Fact Pension disclosure |
| California Public Employees' Retirement System | STATE RETIREMENT SYSTEM | Lightspeed Opportunity Fund III, L.P. | $225M committed | reported as of Dec 31, 2025 | Fact Pension disclosure |
| California Public Employees' Retirement System | STATE RETIREMENT SYSTEM | Lightspeed Opportunity Fund II, L.P. | $200M committed | reported as of Dec 31, 2025 | Fact Pension disclosure |
Relationships across DFX
196 co-investors · on 2 other DFX graphs
Co-investors
- 2026-09-306 shared deals · strong · they led 1 · this firm led 2
- 2026-10-014 shared deals · strong
- 2026-09-304 shared deals · strong · they led 1
Compare portfolios with Khosla Ventures, LLC, Geodesic Investments, L.L.C, Menlo Ventures or any firm. Co-investors across the market
Across DFX and the capital chainon 2 other DFX graphs · 224 capital paths ShowHide
- The same institution is held on RIA and Wealth, Allocators, matched by identifier. See which records
Lightspeed Venture Partners is the same institution as 2 records in RIA and Wealth and Allocators.
DFX found 2 relationships across 2 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Lightspeed Venture Partners sits on 224 traced paths of capital across the graphs.
DFX traced 224 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Evidence and history
80 dated events, 89 observations from 4 sources
Timeline
- seen on or beforeSep 30, 2026Mark Sui (Partner // US) no longer on the team page of Lightspeed Venture Partners
- seen on or beforeSep 16, 2026Luke Beseda (Partner, People Infrastructure // US) no longer on the team page of Lightspeed Venture Partners
- Sep 14, 2026LS Investments C, L.P. first reported on Form ADV by Lightspeed Venture Partners, GAV $2,682,626,884
- May 6, 2026Lightspeed M1-B, LLC first reported on Form ADV by Lightspeed Venture Partners (Venture Capital Fund), GAV $79,218,941
- May 6, 2026Lightspeed Co-Investment Fund I, L.P. first reported on Form ADV by Lightspeed Venture Partners (Venture Capital Fund), GAV $984,593,254
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed May 6, 2026 · 51 private fundsShowHide
- Headquarters
- Menlo Park, CAadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- LIGHTSPEEDVP.COM
- SEC adviser type
- Registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- Venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- May 6, 2026
- Private funds reported
- 51 (51 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $50Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $50Bthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 132
Classification history
Classification history
Every classification this record has carried4 on recordShowHide
- Sep 23, 2026Multi-stage venture firm (confirmed, 95%)Both early and growth/opportunity families, reported GAV $50.1B
- Sep 15, 2026Multi-stage venture firm (confirmed, 95%)Both early and growth/opportunity families, reported GAV $45.8B
- Sep 14, 2026Multi-stage venture firm (confirmed, 95%)Both early and growth/opportunity families, reported GAV $42.2B
- Sep 12, 2026Multi-stage venture firm (confirmed, 95%)Both early and growth/opportunity families, reported GAV $23.2B
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC funds reported | May 6, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 29, 2024 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | May 6, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | May 6, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 29, 2024 | Fact | Form ADV |
| First Form ADV filing | 2012-04-02 | May 6, 2026 | Fact | Form ADV |
| First Form ADV filing | 2012-04-02 | Mar 29, 2024 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-30 | Oct 1, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-29 | Sep 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-25 | Sep 26, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-23 | Sep 24, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-22 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-05-06 | May 6, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-05-06 | May 6, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-03-29 | Mar 29, 2024 | Fact | Form ADV |
| Adv pdf loaded | adv-pdf-1 | Sep 14, 2026 | Fact | Form ADV |
| SEC status | Approved | May 6, 2026 | Fact | Form ADV |
| SEC status effective | 2025-04-28 | May 6, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | May 6, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 29, 2024 | Fact | Form ADV |
| Business phone | May 6, 2026 | Fact | Form ADV | |
| Business phone | Mar 29, 2024 | Fact | Form ADV | |
| Contact page url | Sep 30, 2026 | Fact | ||
| Contact page url | Sep 16, 2026 | Fact | ||
| Description | Sep 30, 2026 | Fact | ||
| Description | Sep 16, 2026 | Fact | ||
| Description | Sep 15, 2026 | Fact | ||
| Employees | 132 | May 6, 2026 | Fact | Form ADV |
| Headquarters | Menlo Park, CA | May 6, 2026 | Fact | Form ADV |
| Headquarters | Menlo Park, CA | Mar 29, 2024 | Fact | Form ADV |
| Office address | May 6, 2026 | Fact | Form ADV | |
| Office address | Mar 29, 2024 | Fact | Form ADV | |
| Legal form | Limited Liability Company | May 6, 2026 | Fact | Form ADV |
| Legal form | Limited Liability Company | Mar 29, 2024 | Fact | Form ADV |
| Portfolio page | Sep 30, 2026 | Fact | ||
| Portfolio page | Sep 16, 2026 | Fact | ||
| Portfolio page | Sep 15, 2026 | Fact | ||
| Private funds reported | 51 | May 6, 2026 | Fact | Form ADV |
| Private funds reported | 51 | May 6, 2026 | Fact | Form ADV |
| Private funds reported | 38 | Mar 29, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $50B | May 6, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $50B | May 6, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $26B | Mar 29, 2024 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $50B | May 6, 2026 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | May 6, 2026 | Fact | Form ADV |
| Stated geography | Global, india “geography words on the home page” | Sep 30, 2026 | Fact | |
| Stated geography | Global, india “geography words on the home page” | Sep 16, 2026 | Fact | |
| Stated geography | Global, india “geography words on the home page” | Sep 15, 2026 | Fact | |
| Stated sectors | AI, enterprise software, healthcare, hardware, cybersecurity “sector words on the home page” | Sep 30, 2026 | Fact | |
| Stated sectors | AI, enterprise software, healthcare, hardware, cybersecurity “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated sectors | AI, enterprise software, healthcare, hardware, cybersecurity “sector words on the home page” | Sep 15, 2026 | Fact | |
| Stated stages | Seed, series a, series b “stage words on the home page” | Sep 30, 2026 | Fact | |
| Stated stages | Seed, series a, series b “stage words on the home page” | Sep 16, 2026 | Fact | |
| Stated stages | Seed, series a, series b “stage words on the home page” | Sep 15, 2026 | Fact | |
| Team page | Sep 30, 2026 | Fact | ||
| Team page | Sep 16, 2026 | Fact | ||
| Team page | Sep 15, 2026 | Fact | ||
| Venture funds reported | 51 | May 6, 2026 | Fact | Form ADV |
| Venture funds reported | 51 | May 6, 2026 | Fact | Form ADV |
| Venture funds reported | 38 | Mar 29, 2024 | Fact | Form ADV |
| Website | Sep 12, 2026 | Fact | Form ADV | |
| Website | May 6, 2026 | Fact | Form ADV | |
| Website | Mar 29, 2024 | Fact | Form ADV | |
| Website resolved domain | Sep 30, 2026 | Fact | ||
| Website resolved domain | Sep 16, 2026 | Fact | ||
| Website resolved domain | Sep 15, 2026 | Fact | ||
| Website resolved domain | Sep 14, 2026 | Fact | ||
| Site title | Sep 30, 2026 | Fact | ||
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 15, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersMulti-stage venture firm, confirmed · 2 filing advisers share this firmShowHide
Both early and growth/opportunity families, reported GAV $50.1B
This firm files as 2 advisers on lightspeedvp.com: Ashwood Capital Management Ltd. Each keeps its own CRD, funds and filings; the grouping is the website each swore to on Form ADV and is recomputed every pass.
- importance
- gav: 1 · funds: 1 · people: 1 · investments: 0.78 · co investors: 0.93
- active deployment
- investments 12m: 1 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2026-09-28
- emerging manager
- fund count: 66 · reported gav: $50B · first adv filing: 2012-04-02 · years since first filing: 14.5
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Fits
- score 44.2confidence 90%Why: stage fit; activity; cap table
- score 44.2confidence 90%Why: stage fit; activity; cap table
- score 44.2confidence 90%Why: stage fit; activity; cap table
+6 more scored matches
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Scored by DFX match engines from the record's observed portfolio, stage, geography and recent activity. A fit is a reason to look, not a mandate; the blockers say what the model could not confirm. Names and the evidence sentences show with the names on this page.
Record history
- Merged in2026-09-14
- LP commitment disclosed2025-12-31source on record
- LP commitment disclosed2025-06-02source on record
+1 more change on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.