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Success with Snap helps venture firm Lightspeed raise $1.8 billion for new funds

Reuters  |  SAN FRANCISCO 

By Heather SomervilleSAN FRANCISCO (Reuters) - Venture capital firm Lightspeed Venture Partners has raised $1.8 billion to invest in startups from cryptocurrency to beauty supplies, hoping to build on its streak of lucrative bets in companies such as Snap Inc, the firm's partners told Reuters.Lightspeed has historically been an early-stage investment firm and was the first outside investor in Snap's messaging app Snapchat. But about $1.05 billion of the new funding will be earmarked for a separate fund to invest in more mature companies, the partners said on Monday. The dollar amount is more ...

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First Published: Tue, July 10 2018. 18:32 IST