Lightspeed Secondary Deal Hits $600M for OpenAI and Four Assets

Lightspeed moves OpenAI, Verkada, Rippling, Reflection AI, and Glean into a continuation fund via $600M secondary deal, while boosting Anthropic stake.

Woofun AI reports that Lightspeed Venture Partners is executing a secondary transaction valued at approximately $600 million to extend holdings in OpenAI and four other portfolio companies. Internally designated as "Project Mercury", the deal involves Select V, Opportunity II, and an independently managed account, transferring assets to a continuation fund led by Coller Capital with UBS as advisor. The transferred assets include security firm Verkada, workforce management company Rippling, AI startup Reflection AI, and enterprise search platform Glean.

Concurrently, Lightspeed is increasing its investment commitment in Anthropic, where its recent financing round valued the firm at $965 billion.