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Asset/Investment Management
FINANCIAL | Asset/Financial Management
lightstreet.com

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Investments

9

Portfolio Exits

3

Funds

7

About Light Street Capital

Light Street Capital Management is an investment management firm based in Palo Alto, California. The firm invests globally in public equity markets with a focus on the technology and media sectors.

Light Street Capital Headquarter Location

525 University Ave Suite 300

Palo Alto, California, 94301,

United States

650-234-1640

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Light Street Capital Rank

Latest Light Street Capital News

2 of the biggest hedge fund victims of GameStop's short-squeeze suffered more losses in May, report says

Jun 11, 2021

Noam Galai/SOPA Images/Getty Hedge funds lost about $6 billion since the start of May over betting against meme-stocks. The latest decline takes Melvin's overall losses to 44.7% so far this year. US hedge funds Melvin Capital and Light Street Capital, two short sellers hurt by the GameStop day-trader rebellion earlier this year, saw further declines in May, the Financial Times reported on Thursday. New York-based Melvin, which lost more than 50% in January over its short positions on GameStop , lost another 4% last month, the report said, citing sources. That brings its overall losses so far this year to about 45%. Meme stock short-sellers have continued to be squeezed as retail investors remain bullish on popular names like Bed Bath & Beyond , AMC , BlackBerry , and Clover Health . Total hedge fund losses from betting against this pack of stocks amount to $6 billion since the start of May, the FT said, citing data from Ortex Analytics. At the start of the year, a number of short-sellers lost over $5 billion as Reddit traders formed a snowballing momentum trade that caused GameStop shares to skyrocket. Shorting a stock means an investor is betting a company's share price will fall. The opposite of this is "going long," which reflects a belief the price will rise. Although the value of Melvin's assets fell $4.5 billion in January from the end of 2020, they have since recovered to $11 billion as of June 1, the FT reported. The fund closed out all of its public short positions , including GameStop and AMC, in the first three months of the year. But it could still have some traditional short positions that aren't required to be publicly disclosed. Other funds with extended losses include Palo Alto-based Light Street Capital, founded by Glen Kacher, who started his career at billionaire Julian Robertson's famous fund, Tiger Management. Light Street, which had about $3.3 billion in assets under management at the start of the year, was hit by losses on short positions in the first-quarter, the FT said. After losing a further 3% in May, its flagship fund is now down more than 20% this year. Melvin Capital declined to comment on FT's report, while Light Street could not be contacted. Read the original article on Business Insider

Light Street Capital Investments

9 Investments

Light Street Capital has made 9 investments. Their latest investment was in SmartHR as part of their Series D on June 6, 2021.

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Light Street Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/8/2021

Series D

SmartHR

$142.55M

No

3

11/12/2020

Series B - II

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$99M

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10

2/14/2020

Series F

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$99M

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10

9/17/2019

Series E

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$99M

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10

9/17/2019

Series D

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$99M

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10

Date

6/8/2021

11/12/2020

2/14/2020

9/17/2019

9/17/2019

Round

Series D

Series B - II

Series F

Series E

Series D

Company

SmartHR

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Amount

$142.55M

$99M

$99M

$99M

$99M

New?

No

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Co-Investors

Sources

3

10

10

10

10

Light Street Capital Portfolio Exits

3 Portfolio Exits

Light Street Capital has 3 portfolio exits. Their latest portfolio exit was GitLab on October 14, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/14/2021

IPO

$991

2

00/00/0000

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$991

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10

00/00/0000

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$991

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10

Date

10/14/2021

00/00/0000

00/00/0000

Exit

IPO

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Companies

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Valuation

$991

$991

$991

Acquirer

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Sources

2

10

10

Light Street Capital Fund History

7 Fund Histories

Light Street Capital has 7 funds, including Light Street Beacon I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/13/2020

Light Street Beacon I

$56.9M

2

Light Street Beacon Co-Invest 2

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$99M

10

Light Street Beacon Co-Invest 3

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$99M

10

Light Street SPV5

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$99M

10

Light Street SPV6

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$99M

10

Closing Date

1/13/2020

Fund

Light Street Beacon I

Light Street Beacon Co-Invest 2

Light Street Beacon Co-Invest 3

Light Street SPV5

Light Street SPV6

Fund Type

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Status

Amount

$56.9M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

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