Lightspeed Venture Partners Select Ii, LP

Lightspeed Venture Partners Select II sold 475,869 shares of NAVN for $9.1M across 3 trades at blended avg $19.12

Lightspeed Venture Partners Select II, a 10% owner, executed 3 separate sales totaling 475,869 shares for $9,098,183.58 between June 16–17, 2026, reducing its stake by 17.3% to 2,280,989 shares post-transaction. The blended average sale price of $19.12 sits notably below the current price of $21.91, meaning the exit predated recent upward momentum (+16.0% over 30 days, +147.0% over 90 days). The company is unprofitable (net income of $-225,389,000.00 in the latest full fiscal year) despite strong top-line growth of +30.8% year-over-year and a recent quarterly revenue of $194,934,000.00; Navan trades at a $1.0B market cap. A sizable reduction in a founding venture investor's position against a backdrop of improving near-term price action and persistent losses warrants investor attention to the vendor's stated rationale and broader fund lifecycle dynamics.

Lightspeed Venture Partners Select II sold 2,024,131 shares (42.3% of holdings) for $40,862,524.89 across 5 transactions on 2026-06-12 and 2026-06-15.

Lightspeed Venture Partners Select II, a 10% owner of NAVN, executed 5 separate sales totaling 2,024,131 shares for $40,862,524.89, reducing its stake from 4,780,989 shares to 2,756,858 shares (a -42.3% reduction). The sales occurred at prices ranging from $19.77 to $20.91, with a blended average of $20.19, marginally above the current price of $20.10. This represents a material stake reduction by a major VC holder concurrent with the company's unfavorable fundamentals: NAVN is unprofitable (net income of $-225,389,000.00 in its most recent full fiscal year) despite strong revenue growth of +30.8% year-over-year. The divestiture signals a structural shift in the VC's position in an early-stage, cash-burning venture, though the transaction occurred at price levels consistent with recent trading rather than at a pronounced discount or premium.