VC Victor Lazarte Launches New Firm After Benchmark Exit

Victor Lazarte Departs Benchmark to Launch New Venture

Victor Lazarte, formerly a venture capitalist with Benchmark, has announced his departure to establish an independent investment firm. The announcement was made via X (formerly Twitter) on Thursday.

Lazarte gained prominence within the technology sector as a co-founder of Wildlife Studios, a mobile gaming enterprise. In 2020, Wildlife Studios achieved an estimated valuation of $3 billion.

Investment Portfolio at Benchmark

Throughout his tenure of two years at Benchmark, Lazarte participated in investments targeting several innovative companies. These included Mercor, a startup focused on recruiting and data labeling, and both HeyGen, an AI-driven video intelligence platform, and Decart AI, specializing in AI infrastructure.

According to Lazarte’s statement, his decision to leave Benchmark is motivated by a desire to “build a new investment practice.” Sources indicate that portfolio companies were informed of his plans prior to the public announcement.

Recent Changes within Benchmark

Lazarte’s departure marks the second change to Benchmark’s partnership this year. Sarah Tavel previously announced her transition to a venture partner role in April.

Following Lazarte’s exit, the remaining partners at Benchmark include Peter Fenton, Eric Vishria, and Chetan Puttagunta.

Benchmark’s Unique Partnership Structure

Benchmark distinguishes itself from many venture capital firms through its operational model. Unlike traditional structures where senior partners often receive a larger portion of fees and profits, Benchmark functions as an equal partnership.

This means all general partners share in fees and investment returns equally. Requests for further comment from both Benchmark and Victor Lazarte were not immediately answered.

Key Takeaway: Lazarte’s move signals a shift in the venture capital landscape, with a notable founder opting to forge his own path after a successful period at a leading firm.