Lightspeed Venture Partners targets $1.8 billion for new funds

Lightspeed Venture Partners, a Silicon Valley VC firm known for putting the first money into Snap, is raising up to $1.8 billion for a pair of funds, according to an SEC filing. Lightspeed declined to comment on the new funds.

Trending up: This is the latest firm in recent months to up its fundraising — General Catalyst, Battery Ventures, and Khosla Ventures, among others, are all raising (or have closed) over a billion dollars each for new funds. Meanwhile, Sequoia is reportedly raising $12 billion across a few funds, though none rival SoftBank's $100 billion Vision Fund.