Lightspeed Venture Partners Select V, L.P.
3 additional principals, 2 additional placement agents, 3 additional LP reports and investments
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
- 2 LP reportspublic disclosures
2 public LP reports name this vehicle; the latest, Alaska Permanent Fund Corporation as of 31 Dec 2025, shows $26.7M committed.
A named LP and its own performance figures are the strongest outside read on a fund.
FactPublic pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)For LPs, fund-of-fundsLimited partners →
Amounts, each with its basis
- Vintage
- 2022basis: adv first reported
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- indefinitewhat may be sold, not what was raised; file 021-422492, sworn by the adviser or filed under this vehicle
- Form D sold
- $0as of the filing of Nov 24, 2021
- First sale
- unknown
- Reported GAV
- $4.0Bon the Form ADV filed Sep 14, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 219
- Reported on ADV
- Mar 25, 2022 to Sep 14, 2026
Fundraising evidence
What counts as raisingA Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.Lifecycle
Active deployment
Lifecycle
The fund's own reporting through time
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 25, 2022 | Venture Capital Fund | $703M | 93 | 2% | yes | ||
| Mar 29, 2023 | Venture Capital Fund | $2.2B | 215 | 2% | yes | ||
| Mar 29, 2024 | Venture Capital Fund | $2.2B | 216 | 2% | yes | ||
| May 6, 2026 | Venture Capital Fund | $4.0B | 219 | 2% | |||
| Sep 14, 2026 | $4.0B | 219 | 2% |
Principals and agents
- Ravi Mhatre Director
- Lightspeed General Partner Select V, L.P. Director
- Bejul Somaia Director
Service providers
- AuditorKPMG · GEORGE TOWN, Cayman IslandsForm ADV filed May 6, 2026 reports.adviserinfo.sec.gov
- CustodianCOMPUTERSHARE TRUST COMPANY · CANTON, Massachusetts, United StatesForm ADV filed May 6, 2026 reports.adviserinfo.sec.gov
- CustodianANCHORAGE DIGITAL BANK N.A. · SIOUX FALLS, South Dakota, United StatesForm ADV filed May 6, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performance
Whose numbers these areEach row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| California Public Employees' Retirement System calpers.ca.gov | 2022 | $100M | $94.0M | $0 | $147M | 21.5% | 1.6x | Dec 31, 2025 |
| Alaska Permanent Fund Corporation apfc.org | 2022 | $26.7M | Not disclosed | Not disclosed | Not disclosed | not meaningful yet | unknown | Dec 31, 2025 |
Known LPs and allocators
What these amounts and dates areA commitment date prints only when the source printed one; otherwise the row carries the date of the report that listed it. A foundation’s 990-PF line is a holding at fair value on its return, never a commitment.| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| California Public Employees' Retirement System | STATE RETIREMENT SYSTEM | $100M committed | reported as of Dec 31, 2025 | Fact Pension disclosure |
| San Joaquin County Employees Retirement Association | PUBLIC PENSION | $40.0M committed | reported as of Jun 30, 2025 | Fact Pension disclosure |
| Alaska Permanent Fund Corporation | SOVEREIGN LINKED US ALLOCATOR | $26.7M committed | reported as of Dec 31, 2025 | Fact Pension disclosure |
Investments attributed to this vehicle
Timeline
- Dec 31, 2025APFC reports Lightspeed Venture Partners Select V LP: $26,700,000 committed, vintage 2022LP commitment disclosed Fact Pension disclosure
- Dec 31, 2025CalPERS reports Lightspeed Venture Partners Select V, L.P.: $100,000,000 committed, vintage 2022, net IRR 21.5%, 1.6xLP commitment disclosed Fact Pension disclosure
- Dec 31, 2025CalPERS reports Lightspeed Venture Partners Select V, L.P.: $100,000,000 committed, vintage 2022, net IRR 21.5%, 1.6xLP commitment disclosed Fact Pension disclosure
- Mar 25, 2022Lightspeed Venture Partners Select V, L.P. first reported on Form ADV by Lightspeed Venture Partners (Venture Capital Fund), GAV $703,320,000Fund first reported on Form ADV Fact Form ADV
- Nov 24, 2021Lightspeed Venture Partners Select V, L.P. filed Form D: no sales yet (indefinite offering), Venture Capital FundForm D filed Fact Form D
Evidence
Every observation on this vehicle
- Adv pdf fund: 3,963,686,227 Sep 14, 2026 Fact Form ADV
- Entity type: Other Nov 24, 2021 Fact Form D
- Form D fund type: Venture Capital Fund Nov 24, 2021 Fact Form D
- Form D industry group: Pooled Investment Fund Nov 24, 2021 Fact Form D
- Amendment: false Nov 24, 2021 Fact Form D
- Revenue range (Form D): Decline to Disclose Nov 24, 2021 Fact Form D
- Incorporated: withinFiveYears Nov 24, 2021 Fact Form D
- Jurisdiction: CAYMAN ISLANDS Nov 24, 2021 Fact Form D
- Amount sold (Form D): $0 Nov 24, 2021 Fact Form D
- Exemptions: 06c, 3C, 3C.7 Nov 24, 2021 Fact Form D
- Indefinite offering: true Nov 24, 2021 Fact Form D
- Investors (Form D): 0 Nov 24, 2021 Fact Form D
- Minimum investment (Form D): 0 Nov 24, 2021 Fact Form D
- Securities offered: Equity, pooled Nov 24, 2021 Fact Form D
- Office address: Nov 24, 2021 Fact Form D
- Year of incorporation: 2021 Nov 24, 2021 Fact Form D
Relationships across DFX
on 2 other DFX graphs · 30 capital paths
Lightspeed Venture Partners Select V, L.P. is the same institution as 2 records in Allocators and RIA and Wealth.
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 Select V, L.P. sits on 30 traced paths of capital across the graphs.
DFX traced 30 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…
Record history
- LP commitment disclosed2025-12-31source on record
- LP commitment disclosed2025-12-31source on record
- LP commitment disclosed2025-12-31source on record
+2 more changes 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.