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Lightspeed Ventures bags $60m NYSTRS commitments to $800m-targeting funds

31 Jan 2014

lights_lrgLightspeed Venture Partners has picked up $60m of commitment from the New York State Teachers’ Retirement System towards two new funds targeting a total of $800m.

Up to $35m will go towards Lightspeed Venture Partners X according to peHub, which said the remaining $25m was slated for the earlier stage Venture Partners Select Fund vehicle.

Hitting the target for both of those funds will see Lightspeed equal the $800m it gathered for its eighth fund in 2008, and outstrip the $675m it collected for Fund IX in 2012.

NYSTRS committed $150m to private equity funds in the fourth quarter of 2013, with $100m going to GTCR XI, $25m to FirstMark Capital III and $25m to General Catalyst VII.

This time last year Lightspeed China Partners, the Asian arm of Silicon Valley venture investor Lightspeed Venture Partners, exceeded its $150m target for its inaugural China vehicle after a lengthy fundraise.

The firm, which has been active in China since 2005 with teams in Shanghai and Beijing, raised $168m.

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