[Lightspeed Plans to Extend Holdings in OpenAI and Other Assets Through a $600 Million Secondary Transaction, While Increasing Investment in Anthropic] According to Bloomberg, citing sources familiar with the matter, Lightspeed Venture Partners is seeking to extend the holding period for OpenAI and four other assets through a secondary transaction worth approximately $600 million, while committing additional investment to Anthropic. The transaction, internally codenamed 'Project Mercury,' involves Lightspeed's Select V and Opportunity II funds, as well as a separately managed account. The plan is to transfer the relevant investments into a continuation fund while returning cash to existing investors. In addition to OpenAI, the assets proposed for transfer include security technology company Verkada, workforce management company Rippling, AI startup Reflection AI, and enterprise search platform Glean.