Lightspeed raises over $7 billion across four funds, launches new 'crypto native' team

Quick Take

  • Venture capital firm Lightspeed announced today that it has secured over $7 billion across four new funds.
  • It also launched an independent ‘crypto-native’ team called Lightspeed Faction.

Venture capital firm Lightspeed announced today that it had secured over $7 billion in capital to be invested across four new funds aimed at "early-stage entrepreneurs across the globe," including one focused on India.

The firm also unveiled an independent "crypto-native team” called Lightspeed Faction, which will be led by investors Sam Harrison and Banafsheh Fathieh. “Faction believes the innovation economy is at the precipice of a significant computing paradigm shift with blockchain companies leading," the announcement stated.

The four funds revealed today are called Lightspeed Venture Partners XIV-A/B LP, Lightspeed Venture Partners Select V LP, Lightspeed Opportunity Fund II LP and Lightspeed India Partners Fund IV. The funds closed with $1.98 billion, $2.26 billion, $2.36 billion and $500 million, respectively.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy