Story perspectives

Lightspeed Raises $9B Amid Shifting VC Landscape

12/16/2025

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Summary

Story summary

In December 2025, Lightspeed Venture Partners announced it raised $9 billion, its largest fundraising effort.
Limited partners have shifted investments toward established firms after disappointing returns from the 2021 VC bubble.
Lightspeed Venture Partners has backed 165 AI-native firms, including Anthropic.
Founders Fund and General Catalyst have raised significant capital recently.
2025 is projected to have the fewest VC fund closings in a decade.

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Story summary

In December 2025, Lightspeed Venture Partners announced it raised $9 billion, its largest fundraising effort.
Limited partners have shifted investments toward established firms after disappointing returns from the 2021 VC bubble.
Lightspeed Venture Partners has backed 165 AI-native firms, including Anthropic.
Founders Fund and General Catalyst have raised significant capital recently.
2025 is projected to have the fewest VC fund closings in a decade.