Lightspeed Venture Partners XIV-A (Inception)
Lightspeed Venture Partners Vintage 2022 Reported by CalPERS
Net IRR39.8%CalPERS, as of December 31, 2025
TVPI2.40xTotal value / paid-in
DPI0.00xDistributions / paid-in
Versus vintageQ1Top quartile · #1 of 32
What each LP reports
| LP | As of | Committed | Paid in | Distributed | Remaining value | Net IRR | TVPI | DPI | Paid in vs. value |
|---|---|---|---|---|---|---|---|---|---|
| CalPERS | 2025-12-31 | $45M | $40M | $0M | $95M | 39.8% | 2.40x | 0.00x |
Paid in Distributed Remaining value
2022 vintage in CalPERS’s portfolio
All 32 funds of vintage 2022 in CalPERS’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| 1 | Lightspeed Venture Partners XIV-A (Inception), L.P. | 39.8% | 2.40x | 0.00x |
| 2 | Lightspeed Opportunity Fund II, LP | 37.1% | 2.00x | 0.00x |
| 3 | Lightspeed Venture Partners XIV-B (Ignite), L.P. | 37.0% | 2.10x | 0.00x |
| 4 | BOND III, LP | 26.9% | 1.40x | 0.00x |
| 5 | CA Co-Investment Limited Partnership | 21.6% | 1.50x | 0.00x |
| 6 | Lightspeed Venture Partners Select V, L.P. | 21.5% | 1.60x | 0.00x |
| 7 | Butterfly II, LP | 17.4% | 1.40x | 0.42x |
| 8 | Project Quail Opportunities, L.P. | 17.1% | 1.30x | 0.02x |
| 9 | Advent International GPE X Limited Partnership | 16.6% | 1.30x | 0.02x |
| 10 | Healthcare and Fintech, L.P. | 16.6% | 1.30x | 0.00x |
| 11 | Redwood Lane Capital, L.P. | 16.6% | 1.40x | 0.00x |
| 12 | Stone Point Fund IX, L.P. | 16.2% | 1.40x | 0.15x |
| 13 | Bay State Partners, L.P. | 16.0% | 1.20x | 0.09x |
| 14 | Oak HC/FT Partners V, L.P. | 14.0% | 1.20x | 0.19x |
| 15 | KKR North America Fund XIII SCSp | 12.9% | 1.30x | 0.02x |
| 16 | Carlyle Partners VIII, L.P. | 12.8% | 1.20x | 0.66x |
| 17 | The Veritas Capital Fund VIII, L.P. | 12.0% | 1.30x | 0.00x |
| 18 | Advent Global Technology II Limited Partnership | 11.5% | 1.30x | 0.00x |
| 19 | Thoma Bravo Fund XV, L.P. | 11.2% | 1.30x | 0.50x |
| 20 | EQT X (No.2) USD SCSp | 8.0% | 1.10x | 0.05x |
| 21 | WCAS XIV, L.P. | 7.5% | 1.10x | 0.04x |
| 22 | HongShan Capital Venture Fund IX, L.P. | 7.4% | 1.10x | 0.00x |
| 23 | Summit Partners Growth Equity Fund XI-A, L.P. | 6.7% | 1.10x | 0.01x |
| 24 | BRV Lotus Fund III, L.P. | 5.3% | 1.20x | 0.18x |
| 25 | PSG Encore L.P. | 5.3% | 1.10x | 0.23x |
| 26 | Permira Growth Opportunities II SCSP | 4.2% | 1.10x | 0.06x |
| 27 | Clearlake Capital Partners VII, L.P. | 3.7% | 1.10x | 0.00x |
| 28 | Base10 Partners III, L.P. | 2.7% | 1.00x | 0.00x |
| 29 | HongShan Capital Seed Fund III, L.P. | -3.2% | 1.00x | 0.00x |
| 30 | Arsenal Capital Partners VI LP | -4.0% | 0.90x | 0.05x |
| 31 | Tiger Global Private Investment Partners XV, L.P. | -5.2% | 0.80x | 0.00x |
| 32 | Arsenal Capital Partners Growth LP | -20.7% | 0.60x | 0.04x |
Other reported funds by this firm
About this data
CalPERS: CalPERS Private Equity Program Fund Performance, as of December 31, 2025. Net IRR and investment multiple as reported by CalPERS. N/M (not meaningful) for funds in early years is shown as blank. View source
Figures are as each LP reports them for its own investment, so they can differ between LPs because of timing, fees, and share class. Not investment advice.