TLDR:
- Lightspeed partners Abhishek Nag and Vaibhav Agrawal have left the firm.
- Agrawal is set to launch his own venture firm, while Nag has joined Mumbai-based 360 One to lead early-stage investments.
Lightspeed Venture Partners, known for backing startups like Oyo and Udaan, has seen partners Vaibhav Agrawal and Abhishek Nag depart from the firm. Agrawal is planning to launch his own venture firm while Nag has joined 360 One in Mumbai to lead early-stage investments. This departure comes amidst a churn in the venture capital industry, with key executives leaving firms like Nexus Venture Partners and Trifecta Capital. Lightspeed has recently made significant investments, but some of its larger bets have not performed well, with companies like Udaan and ShareChat experiencing valuation decreases. The churn in the industry has also seen executives like Priyanka Gill and Vishesh Khurana join venture investors.
Overall, Lightspeed has raised substantial commitments but some of its portfolio companies have faced challenges. The departures of Agrawal and Nag reflect a broader trend in the industry with top-level executives making strategic career moves in the dynamic startup ecosystem.
