Lightspeed Venture Partners opens NYC office – Axios

September 14, 2022

Lightspeed Venture Partners, a venture firm that was an early investor in Snapchat, is opening a New York City office to expand its investment strategy, Justin Overdorff, a partner at the firm, told Axios.
Why it matters: "Times have certainly changed from a success standpoint," Overdorff said. "There's been material IPOs and acquisitions in the New York ecosystem."
Details: With the expansion, the company is bringing on Michael Mignano, the co-founder of Spotify's creator podcast platform Anchor, as a partner who will help lead consumer investments.
The big picture: The startup ecosystem in New York is booming, thanks to growing sectors like fintech and crypto.
What to watch: Lightspeed has long been a global firm, but the company plans to shift its strategy to increase its density in a handful of global cities that impact certain niches, like New York's impact on fintech.


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