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Lightspeed Plans to Raise $600 Million for Secondary Fund to Invest in OpenAI and Anthropic

On August 12, Bloomberg reported that Lightspeed Venture Partners is seeking to raise approximately $600 million through secondary transactions to extend its investment exposure to OpenAI and other artificial intelligence companies, as well as to increase its investment in AI model company Anthropic. According to insiders, this fundraising effort is internally codenamed 'Project Mercury' and involves multiple secondary funds under Lightspeed, including the Select V Fund, Opportunity II Fund, and certain assets in a separately managed account. Lightspeed aims to provide liquidity to investors through secondary market transactions while maintaining long-term holdings in leading companies in the AI sector.

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