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The Venture Codex

Lightspeed Faction

2200 Sand Hill Road, Menlo Park, CA, 94025, United States

Overview

Crypto-focused investment fund leveraging Silicon Valley resources.

Founded

2021

Deals ยท 12mo

9

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A

Geographic focus

Cayman Islands
United Kingdom
United States

Sector focus

Blockchain
Finance
Venture Capital

Investment portfolio

45rounds
NAMEDATESIZE
Latitude
Sep 2026Participated
$35 MSeries A
Diameter Pay
Sep 2026Led
$10 MSeries A
Glacis Labs
Jul 2026Led
$7 MSeed
Turnkey
May 2026Participated
$13 MOther Equity
Latitude
Apr 2026Participated
$8 MSeed
OpenFX
Mar 2026Participated
$94 MSeries A
Meld
Jan 2026Led
$7 MOther Equity
Frontera Labs
Dec 2025Led
$3 MSeed
TransCrypts
Oct 2025Participated
$15 MSeed
Raiku
Sep 2025Participated
$14 MSeed
Credit Coop
Aug 2025Led
$5 MSeed
LO:TECH
Aug 2025Participated
$5 MSeed
Latitude
Sep 2026Participated
$35 MSeries A
Diameter Pay
Sep 2026Led
$10 MSeries A
Glacis Labs
Jul 2026Led
$7 MSeed
Turnkey
May 2026Participated
$13 MOther Equity
Latitude
Apr 2026Participated
$8 MSeed
OpenFX
Mar 2026Participated
$94 MSeries A
Meld
Jan 2026Led
$7 MOther Equity
Frontera Labs
Dec 2025Led
$3 MSeed
TransCrypts
Oct 2025Participated
$15 MSeed
Raiku
Sep 2025Participated
$14 MSeed
Credit Coop
Aug 2025Led
$5 MSeed
LO:TECH
Aug 2025Participated
$5 MSeed
45
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Insights

Time horizon

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Deal Distribution

Lightspeed Faction: 45 funding rounds are recorded in the selected participation categories.All available history.
Lightspeed Faction: 45 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed128
Series A77
Series B01
Other Equity46

Monthly Deal Activity

Lightspeed Faction: 45 deals are recorded across 50 months.All available history.
Lightspeed Faction: 45 deals are recorded across 50 months. All available history
MonthDeals
Sep '221
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '231
Apr '231
May '230
Jun '230
Jul '230
Aug '231
Sep '230
Oct '230
Nov '230
Dec '232
Jan '241
Feb '242
Mar '243
Apr '242
May '241
Jun '241
Jul '240
Aug '243
Sep '241
Oct '241
Nov '241
Dec '245
Jan '251
Feb '250
Mar '251
Apr '251
May '251
Jun '251
Jul '251
Aug '252
Sep '251
Oct '251
Nov '250
Dec '251
Jan '261
Feb '260
Mar '261
Apr '261
May '261
Jun '260
Jul '261
Aug '260
Sep '262
Oct '260

Sector Breakdown

Lightspeed Faction: Crypto & Blockchain is the largest displayed sector by deal count (34 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Lightspeed Faction: Crypto & Blockchain is the largest displayed sector by deal count (34 deals). All available history
SectorDeals
Crypto & Blockchain34
Fintech20
Enterprise Software8
Networks, Cloud & Communication7
Data, Analytics & IT5
AI & Machine Learning5
Developer Tools5
Cybersecurity & Privacy3
Professional Services3
Travel & Hospitality1
Government & Defense1
Marketing & Advertising1
Media & Entertainment1
Health & Life Sciences1
Social & Community Platforms1

Deal Size Distribution

Lightspeed Faction: 45 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Lightspeed Faction: 45 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M8
$5M-$10M16
$10M-$25M15
$25M-$50M4
$50M-$100M2
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Lightspeed Faction: United States has the largest recorded deal count among the displayed regions (30 deals).All available history.

Top 6 of 6 regions; European countries are grouped as Europe.

Lightspeed Faction: United States has the largest recorded deal count among the displayed regions (30 deals). All available history
RegionDeals
United States30
Europe6
Singapore4
Cayman Islands3
1018 Ll1
Israel1
Lightspeed Faction: 20 co-investors are shown, with Coinbase Ventures sharing 7 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Lightspeed Faction: 20 co-investors are shown, with Coinbase Ventures sharing 7 recorded deals. All available history
Co-investorShared deals
Coinbase Ventures7
Pantera Capital6
Bankless Ventures5
Galaxy Ventures4
Robot Ventures4
Wintermute Ventures4
Bain Capital Crypto3
Brevan Howard Digital3
Dragonfly3
Franklin Templeton3
Jump Crypto3
Maven 113
MH Ventures3
280 Capital2
Accel2
Alchemy2
Alumni Ventures2
Animoca Brands2
Blockchain Founders Fund2
Borderless Capital2

Investment Strategy

Lightspeed Faction: Led accounts for 51% and participating for 49% of round participation.All available history.
Lightspeed Faction: Led accounts for 51% and participating for 49% of round participation. All available history
CategoryDeals (count)Share (%)
Led2351%
Participating2249%
Lightspeed Faction: Single-lead accounts for 22% and co-led for 78% of lead dynamics.All available history.
Lightspeed Faction: Single-lead accounts for 22% and co-led for 78% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead522%
Co-led1878%

Team

Banafsheh Fathieh

General Partner

Clara Boh

Deal Partner

Justin Barlow

Venture Partner

Raymond Feng

Technical Partner

Samuel Harrison

Managing Partner

Tim Khoury

Partner

Will Leas

Partner