It’s more us coming to the table to say we can add unique value-perhaps you can make space for us,” says Murphy.The 13 Largest Global Startup Funding Rounds of June 2023ĭescription: Santa Clara-based Celestial AI is a Machine Learning (ML) accelerator company that develops data center and edge AI computing solutions. “We would be crazy to try and squeeze out the amazing seed funds here. That potential threatens some traditional European investors who can’t boast of the same network of big-name exits and international ties that can help startups expand into the U.S. That push has come amid a wall of capital from Silicon Valley, and Wall Street, firms landing in Europe over the last year. The Menlo Park-based fund hired Luciana Lixandru from Accel Partners in March 2020 to head up a new London office. Lightspeed’s push into Europe tracks with moves from rival Valley heavyweight Sequoia to expand its footprint in the U.K. “We have always made the decision if we go into a region, then we double down, we triple down and that’s exactly what we plan to do in Europe,” says Quinn, who works from the California office, while the fund also has teams in China, Israel, India and Singapore.
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The VC fund has invested over $500 million in European startups since 2007 with second-hand clothes marketplace Vinted, HR software unicorn Personio, and grocery delivery startup Zapp as standouts in its portfolio. Lightspeed’s plan to open a London office has been well trailed, and it has had a partner, Rytis Vitkauskas, based in the British capital since September 2019. to Switzerland to really focus on European investing and advising other companies and is deeply ingrained in the continental European ecosystem.” “Paul is an exceptional investor and I think he deeply understands what an exceptional founder is, and builds the trust with those founders,” says Nicole Quinn, Lightspeed general partner. Its founding partners’ track record is anchored in a string of billion-dollar exits from enterprise and infrastructure plays like Nimble Storage, Nutanix and AppDynamics, while a more recent crop of partners like Midas List investor Jeremy Liew, James Mi, and Nicole Quinn, have invested in fast-growing consumer startups like Snapchat, Gwyneth Paltrow’s Goop, and meditation app Calm. The two new hires fit with the dual focus of Lightspeed. “When I told Ravi I’m moving back to Europe he said ‘let’s find a way to work together’ and that’s something that’s typical of Lightspeed.they are very collaborative.” There is more of that talent to run tech companies at scale and that’s helping fuel the next generation of companies be more successful, more quickly,” says Mason, Lightspeed venture partner. “We now have had so many unicorn success stories in Europe. Mason will continue investing in cloud, software as a service (SaaS), and fintech startups like ComplyAdvantage through his Dig Ventures seed fund, and advising Lightspeed. The British entrepreneur had been backed by Lightspeed at his cloud data startup MuleSoft which was acquired by Salesforce in a $6.5 billion deal in March 2018. Murphy will also be joined by Mason, who will be based out of Geneva. That deal now faces being unwound by the U.K.’s antitrust regulator. He also cofounded the video games studio The Dots, which was sold to Take Two Interactive for $192 million in August 2020, and GIF library Giphy, which was bought by Facebook in a $400 million deal in May 2020. Murphy led investments in Hopin, the events platform that skyrocketed to a $7.5 billion valuation just two years after its launch e-scooter startup Tier Mobility and videogame developer Klang, after joining London-based early-stage investor Northzone in 2018.
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