Debevoise Advises Lightspeed in the Closing of Three Venture Funds with a Total Value of More Than $4.1 Billion

14 April 2020

Debevoise & Plimpton LLP is advising Lightspeed in the formation of three funds to support early and growth stage entrepreneurs around the world: Lightspeed Venture Partners XIII, L.P. (“Fund XIII”) with $875 million, Lightspeed Venture Partners Select IV, L.P. (“Select Fund IV”) with $1.8 billion, and Lightspeed Opportunity Fund, L.P. (“Opportunity Fund”) with $1.5 billion.

Fund XIII is designed to support bold founders in their earliest stages of development in Lightspeed’s long standing enterprise and consumer practices. Select Fund IV is designed to accelerate existing Lightspeed portfolio companies and identify new investments across the firm’s global platform. The Opportunity Fund was established as a new fund vehicle for the Lightspeed platform to back breakout companies from across all of the global territories where the firm operates.

Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 400 companies globally, including Snap, Nest, Nutanix, AppDynamics, MuleSoft, OYO, Guardant, StitchFix, and GrubHub. Lightspeed and its affiliates currently manage $10.5 billion across the global Lightspeed platform, with investment professionals and advisors in Silicon Valley, Israel, India, China, Southeast Asia and Europe.

The Debevoise team was led by partner Andrew Ahern and included partner Peter Furci and associates, Eric Fischer, Robert Geren, Douglas Hirn, Brett Johnson, Molly Klinghoffer, Erasmo Perez, Nana Taylor and Aaron West and corporate staff attorneys Jeremy Cantor and Nicholas Huang.