Lightspeed Raises $600M for Secondary Fund to Expand OpenAI and Anthropic Holdings

Lightspeed targets $600M via secondary transactions under 'Project Mercury' to deepen stakes in OpenAI and Anthropic while offering liquidity to existing investors.

Woofun AI reports that Lightspeed Venture Partners is pursuing a $600 million raise through secondary market mechanisms to extend its exposure in OpenAI and other artificial intelligence firms, alongside new investments in Anthropic. The initiative, internally designated as 'Project Mercury,' utilizes assets from the Select V Fund, Opportunity II Fund, and independently managed accounts. This strategy aims to provide liquidity to current investors while preserving long-term positions in leading AI sector companies.