Lightspeed Venture Partners Expands European Presence with New Hire

Lightspeed Venture Partners, a prominent Silicon Valley venture capital firm with a history of successful investments in companies like DoubleClick and Snapchat, is actively strengthening its European operations.

The firm is currently recruiting a second investment partner based in London, demonstrating a commitment to establishing a more substantial foothold within the European tech landscape.

Paul Murphy to Join Lightspeed from Northzone

Multiple sources indicate that Paul Murphy, currently with Northzone, is set to join Lightspeed. His investment portfolio includes companies such as Tier, Hopin, Klang, and Bunch.

The transition is still being finalized, but an official announcement is anticipated within the coming weeks. Murphy’s tenure at Northzone spans three years, culminating in a promotion to general partner in late 2019 following the firm’s successful $500 million fundraise.

Requests for comment have been directed to both Murphy and Lightspeed, with updates to follow as information becomes available.

Murphy’s Background and Experience

Prior to his venture capital career, Murphy was a co-founder of Dots, a mobile gaming company based in New York.

He also contributed to the development and investment in various startups through his work at Betaworks. Notably, he played a key role in the launch of Giphy in the U.S., a company that Lightspeed subsequently invested in and later sold to Facebook for $400 million.

His earlier experience includes multiple positions at Microsoft, spanning locations in the U.S., U.K., and India.

Murphy holds a Bachelor of Science in Computer Engineering from Virginia Tech and an MBA from The IE Business School in Spain, as detailed on the Northzone website.

Lightspeed’s Growing Commitment to Europe

This expansion by Lightspeed is consistent with observed trends within the European tech ecosystem.

Rumors of Lightspeed seeking a London-based partner first surfaced in August 2019. This led to the appointment of Rytis Vitkauskas as the firm’s initial London partner in September of the following year, according to LinkedIn.

Confirmation of Murphy’s recruitment would signify a considerable growth of the Lightspeed London team and reinforce the firm’s dedication to the region.

Broader Trend of Silicon Valley Investment in Europe

These developments align with similar moves by other major Silicon Valley venture capital firms.

In late 2019, reports emerged that Sequoia was also actively expanding its European presence, alongside discussions of other U.S. VC firms pursuing similar strategies.

This increased interest is driven by the growing value creation within European technology companies.

Sequoia officially announced its European expansion in November, including the recruitment of Luciana Lixandru from Accel Partners.