DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / Lightspeed Faction
Lightspeed Faction
Institutional venture firm · probablePalo Alto, CAfaction.vcSEC registered investment adviserfundraising evidence
venture manager, reported GAV $82M across 4 vehicles
Importance
32
moderate
Active deployment
65
high
Emerging
0
low
Completeness
69
high
Freshness
100
high
Research priority
21
moderate
Identity and regulatory footprint
- Headquarters
- Palo Alto, CAadviserinfo.sec.gov
- Office address
- 650 PAGE MILL ROAD, Palo Alto, CA, 94304adviserinfo.sec.gov
- Business phone
- 424-239-9940adviserinfo.sec.gov
- Website
- https://www.faction.vc/
- SEC adviser type
- registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Mar 18, 2024
- Private funds reported
- 1 (1 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $81.5Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $289Mthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 7
- Owners on Schedule A
- Lightspeed Venture Partners (Owner), C
- business phone
- 424-239-9940adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
56 observed deals
Stated (the firm’s website)
- Sectors
- crypto
- Stages
- seed, series a, early
- Geography
- united states
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Observed (from deals on record)
Stage at participation
seed 100%
Stage at first entry
seed 100%
Sectors
unknown 95%Other Technology 4%Computers 2%
lead rate 100%follow-on rate 0%new logos, 12 months 56
Funds and vehicles
4 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Lightspeed Faction Fund I, LP | Fund | unknown | Unknown | $81.5M Mar 18, 2024 | 100 | $0 | Jul 1, 2022 |
| Lightspeed Faction Fund II, LP | Fund | unknown | Fundraising | unknown | unknown | $0 of $200M | Mar 5, 2026 |
| Lightspeed Faction Fund II US Feeder, LP | Feeder or parallel | unknown | Fundraising | unknown | unknown | $0 of $200M | Mar 5, 2026 |
| Lightspeed Faction Principals Fund II, LP | Feeder or parallel | unknown | Fundraising | unknown | unknown | $0 of $200M | Mar 5, 2026 |
GAV 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.
Investment team
7 current, 0 departed
Banafsheh Fathieh
General partnerGeneral Partner · since Apr 1, 2022
Barry Francis Eggers
Managing partnerManaging Member · since Aug 1, 2005
Peter Yao-Ping Nieh
Managing partnerManaging Member · since Aug 1, 2005
Ravi Brian Mhatre
Managing partnerManaging Member · since Aug 1, 2005
Samuel Harrison
Managing partnerManaging Partner And Cco · since Jan 1, 2022
Tim Khoury
PartnerPartner
Will Leas
PartnerDeal Partner
Investments on record
56 edges, 55 companies, 2 partner-attributed
“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.
Co-investors
40 relationships from shared deals, counted for the whole firm
Variant 3 shared · recurringHack Vc Management, LLC 3 shared · recurringElectric Capital Partners, LLC 2 shared · recurringDlab Ventures LLC 2 shared · recurringBetaworks Ventures Management, LLC 2 shared · recurringParadigm Operations LP 2 shared · recurringN49p Management, LLC 1 shared · one timeCNK Equity Partners I, LLC 1 shared · one timeEthos Manager LLC 1 shared · one timeDarwin Ventures, LLC 1 shared · one timeTarget Global Selected Opportunities LP 1 shared · one timeCadenza 1 shared · one timePathlight Management III, LLC 1 shared · one timeNyca Management LLC 1 shared · one timeA.capital Ventures 1 shared · one time · we led 16th Man Ventures, LLC 1 shared · one timeStrobe Ventures 1 shared · one timeHOF Capital 1 shared · one timeTEN Eleven Ventures, LLC 1 shared · one timeNotation Capital Management, LLC 1 shared · one timeMotley Fool Ventures 1 shared · one timeVillage Global Management, L.L.C. 1 shared · one timeInflection Managing Partner Inc. 1 shared · one timeUnion Square Ventures 1 shared · one timeCollab+currency Management, LLC 1 shared · one timeSJF Management LLC 1 shared · one timeShrug, LLC 1 shared · one timeSilverton Management, L.L.C. 1 shared · one timeQED Investors, LLC 1 shared · one timeEv3 Ventures LLC 1 shared · one timeGVM 1 shared · one timePascal Capital, L.L.C. 1 shared · one timeHypersphere Capital Management LP 1 shared · one timeMMC Ventures Limited 1 shared · one timeScytale Ventures Cayman LLC 1 shared · one timeDiversis Capital 1 shared · one timeHaymaker Ventures LLC 1 shared · one timeFelicis Ventures 1 shared · one timePropel Venture Partners Management Co. 1 shared · one timeBrook Venture Management 1 shared · one time
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
2 dated events
- Aug 29, 2022Faction Ventures, LLC first filed Form ADV (IA)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 29, 2022Lightspeed Faction Fund I, LP first reported on Form ADV by Faction Ventures, LLC (Venture Capital Fund), GAV $177,350,000Fund first reported on Form ADVFundsFactLightspeed Faction Fund I, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Institutional venture firm (probable, 80%, cls-1)venture manager, reported GAV $82M across 4 vehicles
- Sep 12, 2026Institutional venture firm (probable, 80%, cls-1)venture manager, reported GAV $82M across 2 vehicles
Evidence
32 observations from 2 sources