# Lightspeed Faction

> Lightspeed Faction is an SEC-registered investment advisory firm in Palo Alto, CA, registered since 2022, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 17, 2026.

- CRD: 318821
- Filed as: LIGHTSPEED FACTION
- Legal name: Faction Ventures, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Palo Alto, CA
- Filing period: October 2026
- Form ADV filing dated: March 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/318821
- AdvisorCensus page: https://advisorcensus.com/firm/lightspeed-faction-palo-alto-ca-318821

## Quick answers

**How is Lightspeed Faction compensated?**
On its Form ADV (Item 5.E, October 2026), Lightspeed Faction reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Lightspeed Faction located?**
Lightspeed Faction's principal office is in Palo Alto, CA, according to its Form ADV.

**Is Lightspeed Faction registered with the SEC or a state?**
Lightspeed Faction is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 318821.

**How much does Lightspeed Faction manage?**
Lightspeed Faction reports $432,631,544 in regulatory assets under management in its Form ADV filing dated March 17, 2026 (100% discretionary).

**How have Lightspeed Faction's assets and staff changed since 2022?**
In the Form ADV data for Lightspeed Faction: Regulatory assets under management: $177,350,000 in the October 2022 data and $432,631,544 in the October 2026 data, up 144%. Total employees: 3 in October 2022 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Lightspeed Faction serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5).

**Does Lightspeed Faction report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/318821

**Does Lightspeed Faction state an account minimum?**
Its Form ADV Part 2A brochure dated March 17, 2026 says: "Faction generally requires a minimum capital commitment of $1 million for its Funds; however, the Firm maintains discretion to individually waive, increase or reduce the minimum investment required."

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 17, 2026)

- Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)

> Faction generally requires a minimum capital commitment of $1 million for its Funds; however, the Firm maintains discretion to individually waive, increase or reduce the minimum investment required.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $432,631,544
- Discretionary: $432,631,544
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $432,631,544 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2022 (4 years)
- Employees: 8 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- faction.vc
- LinkedIn @factionvc
- X @Factionvc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $177,350,000 | 3 | August 29, 2022 |
| October 2023 | $265,293,000 | 5 | April 25, 2023 |
| October 2024 | $288,918,289 | 7 | March 18, 2024 |
| October 2025 | $465,673,719 | 7 | May 12, 2025 |
| October 2026 | $432,631,544 | 8 | March 17, 2026 |

Regulatory assets under management: $177,350,000 in the October 2022 data and $432,631,544 in the October 2026 data, up 144%.
Total employees: 3 in October 2022 and 8 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lightspeed Faction (CRD 318821): Form ADV filing data as of October 2026.