TechFlow reported that according to the Financial Times, Lightspeed Venture Partners, a well-known Silicon Valley venture capital firm, recently announced that it would shift its investment focus to the secondary market. This move shows that the traditional venture capital model is facing challenges. Lightspeed is currently applying to become a "registered investment advisor" in order to use more than 20% of its funds for secondary market transactions. In the past three years, the company has invested $580 million in the secondary market and purchased stocks of companies including Anduril, Rippling and Stripe.
