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Venture Capital · Profile from Venture Capital Research Companion

Lightspeed Venture Partners

The Menlo Park enterprise-infrastructure shop born out of a Wall Street firm's venture arm that bet its first fund at the top of the 2000 bubble, survived it, and then rebuilt itself into a multi-stage, multi-region platform — best known for the $485k Snapchat seed check, a long run of infrastructure wins (AppDynamics, Nutanix, MuleSoft, Rubrik, Netskope) and, in the 2020s, lead positions in frontier AI (Mistral, Anthropic).

At a glance

Founded
2000, Menlo Park, California (team spun out of Weiss, Peck & Greer's venture practice)
Founders
Barry Eggers, Ravi Mhatre, Peter Nieh, Christopher Schaepe
Headquarters
Menlo Park, CA; offices in San Francisco, New York, London, Paris, Berlin, Tel Aviv, Bengaluru, New Delhi/Gurugram, Mumbai, Singapore; affiliated, separately managed China funds (Lightspeed China Partners, Shanghai/Beijing)
Ownership / structure
Private partnership; general partners own the management company. Reported to have registered as an RIA in the mid-2020s to widen its permissible investments (secondaries, public stock, crypto) (verify)
Leadership (2026)
Ravi Mhatre (co-founder, senior managing partner) with a broad partnership including Arif Janmohamed, Jeremy Liew, Mercedes Bent, Gaurav Gupta, Bucky Moore, Guru Chahal, Justin Overdorff (growth), Antoine Moyroud and Paul Murphy (Europe), Bejul Somaia, Dev Khare and Hemant Mohapatra (India), Yoni Cheifetz (Israel). Titles change frequently; verify individual roles
AUM / capital raised
~$25bn+ raised cumulatively by 2023; firm and press cite ~$35bn+ AUM before the December 2025 raise, which added >$9bn across six vehicles (Wikipedia infobox shows ~$50bn; treat as reported)
Stage focus
Seed through growth; core sectors enterprise/infrastructure, security, fintech, consumer, health; AI-native companies the dominant 2023–26 theme
Signature investments
Wins: Snap, AppDynamics, Nutanix, MuleSoft, Nicira, Nest, Riverbed, Affirm, Rubrik, Netskope, Forty Seven, Navan, Mistral AI, Anthropic, Glean, Grafana; India: OYO, Udaan, ShareChat. Disappointments: the 2000 vintage fund; post-IPO declines (Snap, Nutanix, Stitch Fix); India markdowns after the 2021 peak

10 deals and moves analysed

Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.

  1. 2007

    MuleSoft

    Series B

  2. 2008

    AppDynamics

    Series A

  3. 2010

    Nutanix

    Series A

  4. 2012

    Netskope

    Series A

  5. 2012

    Snapchat

    Seed

  6. 2014

    OYO

    Seed

  7. 2014

    Rubrik

    Series A

  8. 2015

    Navan

    Seed

  9. 2023

    Mistral AI

    Seed

  10. 2025

    Anthropic

    Series E