Snapchat Backer Lightspeed Seeks to Raise $1.1 Billion for Venture Funds

  • Fundraising comes amid concerns over sky-high valuations
  • Previous investors include NY State Teachers Retirement System

Lightspeed Venture Partners is trying to raise more than $1.1 billion for a pair of new venture funds, two people familiar with the matter said. The fundraising comes as concerns grow over sky-high valuations and subpar post-IPO performance for some large venture-backed technology companies.

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