Lightspeed Opportunity Fund, LP

Lightspeed Venture Partners Select LP sells 229.7K shares of Netskope at $12.21 avg for $2.8M, retaining derivative holdings.

Lightspeed Venture Partners Select, LP, a 10% owner, executed 2 separate sales totaling 229,696 shares for $2,803,552.95 on 2026-07-08 and 2026-07-09, liquidating its non-derivative holdings in Netskope while retaining Class B Common Stock via two other Lightspeed entities. The company carries significant operational losses ($-116,496,000.00 net income in the latest period) despite strong annual revenue growth of +31.7%, signaling continued unprofitability that may constrain near-term performance. The sale price of $12.21 average sits 55.6% below the 52-week high of $27.99, and the stock is currently at $12.42, up 38.0% over 30 days and 43.2% over 90 days—price movement that may reflect broader recovery momentum rather than insider conviction in this particular vehicle's prospects.

Lightspeed VC reduces Navan stake by 475,869 shares ($9.1M) across 3 sales; retains 2.28M shares (10% owner)

Lightspeed Venture Partners X, LP executed 3 separate sales totaling 475,869 shares for $9,098,183.58 at a blended average price of $19.12, reducing its holding by 17.3% while maintaining a substantial 2.28M-share position. The sales occurred on June 16–17, 2026, slightly below the current market price of $21.91 and near the 52-week range, during a period when the stock has gained 16.0% over 30 days and 147.0% over 90 days. The company itself remains unprofitable (full-year net income of -$225.4M) despite strong revenue growth of 30.8%, a fundamental tension that may inform any material reassessment by a major institutional holder. The filing reveals a partial exit by a long-standing investor but does not, in isolation, indicate a categorical loss of conviction—the filer retains substantial equity and remains a 10% owner.

Lightspeed Venture Partners Select sold 1,650,000 shares (1.65M) for $15,099,627.13 across 2 transactions at blended $9.15, while retaining derivative holdings.

Lightspeed Venture Partners Select, a 10% owner, executed 2 separate sales totaling 1,650,000 shares for $15,099,627.13, reducing non-derivative holdings from 1,650,000 shares to 0 while retaining 2,690,640 derivative shares through Lightspeed Opportunity Fund, L.P. The stock has declined 68.0% from its 52-week high of $27.99 and fallen 20.2% over the past 30 days, trading at $8.95 versus the blended sale price of $9.15. The company reported net income of $-116,496,000.00 against latest-quarter revenue of $201,592,000.00, reflecting significant unprofitability despite 31.7% annual revenue growth. The disposition of non-derivative shares alongside maintained derivative exposure warrants attention to whether this reflects shifts in the fund's capital deployment strategy or confidence posture toward the company.

Lightspeed Venture Partners X, LP sold 2,024,131 shares for $40.9M at blended avg $20.19, reducing stake 42.3%

Lightspeed Venture Partners X, LP executed 5 separate sales totaling 2,024,131 shares for $40,862,524.89 on June 12 and June 15, 2026, at prices ranging from $19.77 to $20.91, reducing its holdings from 4,780,989 shares to 2,756,858 shares (a 42.3% reduction). The sale occurred as the stock trades at $20.10, near the blended transaction price of $20.19, against a 52-week high of $24.50 and within a 90-day rally of +118.5%. The underlying company reported a latest-quarter revenue of $194,934,000 with a net loss of $-225,389,000, reflecting unprofitability over its most recent full fiscal year despite annual revenue growth of +30.8%. The substantial reduction of a venture capital firm's 10% ownership stake warrants attention to whether the exit reflects a predetermined secondary offering or other liquidity event, alongside assessment of whether the company's widening losses pose concerns to long-term value creation.