Snap vaults venture investor Lightspeed into the Silicon Valley elite
Reuters ----- A decade ago, Lightspeed Venture Partners was an obscure firm investing in highly technical startups that were mostly unknown outside of Silicon Valley. The firm is now poised to cash in handily on the biggest technology IPO in three years, Snap Inc (SNAP.N), which is set to make its public market debut on the New York Stock Exchange on Thursday at a valuation that could top $22 billion. Lightspeed stands to reap one of its best returns from an investment that started as a $485,000 bet on a college student. That investment in the owner of social media app Snapchat promises a big boost to Lightspeed's status in the fiercely competitive Silicon Valley venture capital community. Firms that are perceived to pick the best companies, a group that includes Benchmark, Sequoia Capital and Andreessen Horowitz, can often beat out other VCs for coveted deals and raise more funding from their limited partners. To learn more click on the picture below to read the article.