After two years as a enterprise capitalist for top-shelf agency Benchmark, Victor Lazarte is leaving that firm to begin his personal investing gig, he introduced on X on Thursday.
Lazarte turned recognized in tech for co-founding cellular gaming firm Wildlife Studios, which was final valued at an estimated $3 billion in 2020. Wildlife raised cash from a large number of VCs, together with Benchmark.
Throughout his two years at Benchmark, Lazarte invested in recruiting and knowledge labeling startup Mercor, AI video intelligence platform HeyGen, and AI infrastructure firm Decart AI.
Lazarte is leaving Benchmark to “construct a brand new funding apply,” he wrote within the submit. He had just lately knowledgeable his portfolio corporations about his plans to depart Benchmark, in accordance with a supply.
Lazarte is the second investor to step down from Benchmark’s partnership this yr. Sarah Tavel introduced in April that she is transitioning to a enterprise companion.
After Lazarte’s departure, remaining companions on the storied agency embrace Peter Fenton, Eric Vishria, and Chetan Puttagunta.
Not like most VC corporations, the place senior companions sometimes obtain a higher share of administration charges and earnings, Benchmark operates as an equal partnership, with all common companions dividing charges and returns equally. Benchmark and Lazarte didn’t instantly reply to our request for added remark.
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