Lightspeed Enterprise Companions introduced as we speak that it’s closed the agency’s newest funding spherical, bringing in greater than $7 billion throughout 4 funds that concentrate on early- and growth-stage firms.
The personal fairness agency additionally unveiled Lightspeed Faction, described as “an impartial staff devoted to constructing on Lightspeed’s nine-year historical past of backing distinctive founders in blockchain infrastructure.” Sam Harrison and Banafsheh Fathieh will lead the brand new staff.
“Blockchains have enabled new use circumstances that we imagine will supplant notable legacy techniques. Faction’s joint-venture with Lightspeed pairs a crypto-native staff with the company-scaling expertise of the Lightspeed platform,” they mentioned in a joint assertion.
The increase occurred amid a vicious bear market that’s seen a number of cryptocurrency corporations lay off workers, get liquidated, or get bailed out. A separate report launched Tuesday by enterprise analytics agency CB Insights famous that the $108.5 billion raised amongst 7,651 enterprise offers within the second quarter of 2022 was down 23% from the primary quarter and was “the most important quarterly proportion drop in offers (and the second-largest drop in funding) in a decade.”
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