Debevoise Advises Lightspeed in the Closing of Four Funds Valued at $7.1 Billion

14 July 2022

Debevoise & Plimpton LLP has advised Lightspeed Venture Partners in the formation of four funds to support early and growth stage entrepreneurs around the world: Lightspeed Venture Partners XIV-A/B, L.P. (“Fund XIV”) with $1.98 billion, Lightspeed Venture Partners Select V, L.P. (“Select Fund V”) with $2.26 billion, and Lightspeed Opportunity Fund II, L.P. (“Opportunity Fund II”) with $2.36 billion of committed capital. Separately, Debevoise advised Lightspeed India Partners in the formation of a $500M early stage fund (“LSIP Fund IV”). For more information, please see the company’s press release.

Fund XIV-A/B is designed to support founders in their earliest stages of company development in the firm’s long-standing Enterprise, Consumer, Health and Fintech practices. Select Fund V accelerates existing Lightspeed portfolio companies and new investments across a global platform led by the Lightspeed Growth Team. Opportunity Fund II is a platform to back breakout companies from across all of the global territories where Lightspeed operates. The LSIP Fund IV at its $500M hard-cap reflects the firm's deepening commitment to the India and South East Asia region.

The Debevoise team for Fund XIV-A/B, Select Fund V and Opportunity Fund II was led by investment management partner Andrew Ahern and included associates Norma Angelica Freeland, Daniel Jaret, Brett Johnson, Andrew Silvia and Aaron West and law clerk Max Pearl, and tax partner Peter Furci and associate Erasmo Perez.

The Debevoise team for LSIP Fund IV was led by investment management partner Gavin Anderson and included associate David Wan and Joyce Quan, and international tax counsel Mai Shapiro and associate Sophia Huang.