Lightspeed Venture Partners has closed its twelfth fund on $750m alongside $1.05bn for its third vehicle targeting later-stage deals.
The funds easily surpassed the $1.3bn Lightspeed raised across its predecessor pair in the strategies in March 2016, and boost its committed capital under management to more than $6bn.
Lightspeed said Fund XII will be used to invest in seed, Series A and Series B deals in the enterprise and consumer sectors, while its latest Select Fund will provide follow-on rounds in Lightspeed’s portfolio companies in their early growth phase.
The firm has been very active in the FinTech market, having completed eight FinTech investments this year alone.
Its most recent deal was a lead contribution to property management platform Mynd’s $20m Series B round. The Californian company helps property managers and owners by giving them real-time data and transparency to improve running of properties and collecting payments.
Other transactions completed by the firm this year include contributions to digital life insurance platform Ladder’s $10m round, cyber insurance company At-Bay’s $13m Series A and AI analytics solution ThoughtSpot’s $145m Series D.
Since the start of 2017 the firm has distributed more than $2.7bn in portfolio realisations, through its investments in businesses including AppDynamics, Snap, MuleSoft, Nutanix and Stitch Fix.
Earlier this year the firm saw portfolio business MuleSoft bought by Salesforce in a $6.5bn deal, as well as the IPOs of Zscaler in March and Forty-Seven in June.
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