In the past, Lightspeed has raised a singular fund out of which to make all of its investments. This included an $800 million eighth fund in 2008 and a $675 million ninth fund in 2012. This time around, however, it technically raised two funds: A $650 million vehicle focused on early-stage companies, and a $350 million pool for later-stage opportunities.

Lightspeed is based in Silicon Valley, with a focus on companies in the consumer tech, enterprise tech and energy tech markets. It invests both in the U.S. and internationally, with staffers, advisors and affiliates in China, Israel and India.

The firm’s most recent big exit was Nest Labs, which is being sold to Google (GOOG) for $3.2 billion in cash. Lightspeed had participated in that company’s Series B round. Current portfolio companies include GrubHub (in registration for IPO), Bonobos, Nutanix, MuleSoft, Snapchat, TaskRabbit and Whisper.

Lightspeed’s partners are on a retreat today, and so far have not returned a request for comment.

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