Lightspeed Venture Partners Raises $9B to Expand AI Investments

Lightspeed Venture Partners has announced it has raised $9 billion in new capital, the largest fundraising in its 25-year history. The funds are distributed across six vehicles, including a $3.3 billion opportunity fund dedicated to follow-on investments in its fastest-growing portfolio companies.

The new capital will enable Lightspeed to continue supporting large-scale investments in artificial intelligence and other high-growth technologies. The firm has invested in 165 AI-focused companies, including Anthropic, xAI, Databricks, Mistral, Glean, Abridge, and Skild AI. In September, it reportedly co-led a $13 billion round for Anthropic with a $1 billion contribution.

Lightspeed was also an early investor in Rubrik, Netskope, and Navan, all of which have recently gone public. The firm's growing focus on AI positions it as one of the few venture firms capable of backing billion-dollar funding rounds in capital-intensive sectors.

The raise comes as limited partners such as endowments and sovereign wealth funds concentrate their investments in established venture firms with proven track records, while smaller firms face increasing difficulty attracting new capital.