Lightspeed Seeks $600 Million for Secondary Fund, Doubling Down on OpenAI and Anthropic

Odaily reported that Lightspeed Venture Partners is seeking to raise approximately $600 million through secondary transactions to extend its investment exposure to OpenAI and other artificial intelligence companies, while also adding to its position in AI model company Anthropic. According to sources familiar with the matter, Lightspeed's fundraising effort, internally codenamed "Project Mercury," involves multiple secondary funds under Lightspeed's umbrella, including the Select V fund, the Opportunity II fund, and certain assets within a separately managed account. Lightspeed aims to provide liquidity to investors through secondary market transactions while maintaining long-term holdings in leading AI companies. (Bloomberg)