From Dealroom · · 40s
Lightspeed Builds OpenAI Continuation Fund
Lightspeed moves OpenAI stake into continuation fund to keep exposure past fund deadline.
In brief
Lightspeed moves OpenAI stake into continuation fund to keep exposure past fund deadline. Lightspeed creates a continuation fund to hold its OpenAI stake without selling it at fund's end. Originally reported by Dealroom.
Quick answers
- What's the deal?
- Lightspeed moves assets anchored by its openai stake into a continuation fund it will continue to manage.
- What is the key takeaway from Lightspeed Builds OpenAI Continuation Fund?
- Lightspeed creates a continuation fund to hold its OpenAI stake without selling it at fund's end.
What's the deal?
Lightspeed moves assets anchored by its openai stake into a continuation fund it will continue to manage.
How it works
A venture fund typically has a roughly 10-year life after which it must sell holdings and return cash to investors.
The upshot
Lightspeed hands backers liquidity while keeping exposure to openai.
At a glance
Lightspeed creates a continuation fund to hold its OpenAI stake without selling it at fund's end.
