We advised Lightspeed on the fundraises

Davis Polk advised Lightspeed Venture Partners in connection with the fundraise of more than $9 billion in committed capital across six distinct, highly selective vehicles. These vehicles included Lightspeed Venture Partners Fund XV-A, which closed with $980 million in commitments; Lightspeed Venture Partners Fund XV-B, with $1.2 billion in commitments; Lightspeed Select VI, with $1.8 billion in commitments; and Lightspeed Opportunity Fund III, with $3.3 billion in commitments; together with Lightspeed Co-Investment Fund I, with $600 million in commitments, formed to co-invest alongside Lightspeed-managed vehicles. The firm also closed $1.25 billion in single-investor vehicles in 2025.

Lightspeed is a global, multi-stage venture capital firm managing over $40 billion in assets. Since its founding in 2000, Lightspeed has been the first investor and an early backer of some of the most innovative companies in the world, including Abridge, Anthropic, Anduril, Castelion, Databricks, Glean, Mistral, Navan, Neko Health, Netskope, Thinking Machines, Reflection AI, Rubrik, Snap, Skild AI, Vinted and Wiz.

The Davis Polk investment management team included partners Andrew M. Ahern and Luke P. Eldridge, counsel Norma Angelica Lopez Campos and associates Chelsea C. Ryan, Mariana Lozano Villareal, Hyunsik (Jack) Kim, Marc Schwab, Matthew Picon and Joao Pedro Santa-Rita. Partner Ethan R. Goldman and associates William Liang and Carter Ballentine Allison provided tax advice. All members of the Davis Polk team are based in the New York office.

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