VC Victor Lazarte Exits Benchmark to Start New Firm
▼ Summary
– Victor Lazarte is leaving Benchmark after two years to start his own investment practice, as announced on X.
– Lazarte co-founded Wildlife Studios, a mobile gaming company valued at $3 billion in 2020, which raised funds from Benchmark and other VCs.
– During his time at Benchmark, Lazarte invested in startups like Mercor, HeyGen, and Decart AI.
– Lazarte is the second investor to leave Benchmark’s partnership this year, following Sarah Tavel’s transition in April.
– Benchmark operates as an equal partnership, with all general partners sharing fees and returns equally, unlike most VC firms.
Venture capitalist Victor Lazarte has departed Benchmark to launch his own investment firm, marking a significant career shift after two years with the prestigious Silicon Valley venture capital group. The announcement came via a social media post where Lazarte revealed plans to establish a fresh investment approach.
Lazarte first gained prominence in the tech world as co-founder of Wildlife Studios, a mobile gaming powerhouse that achieved a staggering $3 billion valuation in 2020. Benchmark itself participated in funding rounds for Wildlife, creating a natural transition when Lazarte joined the VC firm in 2022. During his tenure, he backed several high-potential startups, including Mercor, HeyGen, and Decart AI, focusing on AI-driven and infrastructure innovations.
His exit follows that of fellow Benchmark partner Sarah Tavel, who stepped down earlier this year. The firm’s current leadership now consists of Peter Fenton, Eric Vishria, and Chetan Puttagunta, maintaining its reputation as an egalitarian partnership where profits and responsibilities are evenly distributed among general partners.
While Benchmark remains tight-lipped about the departure, industry observers speculate that Lazarte’s move signals a growing trend of investors pursuing independent ventures. His next steps could reshape early-stage funding strategies, particularly in AI and gaming, sectors where he has deep expertise. No further details about his new firm have been disclosed yet, but the tech community will be watching closely.
(Source: TechCrunch)
