Nest Labs-backer Lightspeed talks to LPs about $800m fundraise


light_dark_depth_sea_170sqEarly-stage investor Lightspeed Ventures is reportedly in talks with LPs about raising another $800m fund after cashing out of Nest Labs through Google’s $3.2bn purchase.

Lightspeed hit $800m for its eighth fund in 2008, beating its $675m target, and another $675m for its ninth vehicle in 2012.

The firm is eyeing $800m again for the latest vehicle according to peHUB, which cited three people who had heard the pitch.

Lightspeed was an early investor in Nest, and although return details were not disclosed fellow backer Kleiner Perkins Caufield & Byers made a 20x return on its own investment through Google’s buyout.

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