VC Victor Lazarte is leaving Benchmark to launch his own firm

Victor Lazarte has announced his departure from the prestigious venture capital firm Benchmark after a two-year tenure, revealing plans to establish his own investment firm. The news broke via a post on X, where Lazarte shared his excitement about embarking on this new journey. Known for co-founding the successful mobile gaming company Wildlife Studios, which boasted a valuation of approximately $3 billion in 2020, Lazarte has made a significant impact in the tech industry. His experience includes raising funds from various venture capitalists, including Benchmark itself. During his time at Benchmark, Lazarte was instrumental in funding several innovative companies, such as the recruiting and data labeling startup Mercor, the AI video intelligence platform HeyGen, and the AI infrastructure firm Decart AI. He revealed that he had already communicated his plans to leave to his portfolio companies, signaling a thoughtful transition. Lazarte's exit marks him as the second partner to leave Benchmark this year, following Sarah Tavel's announcement in April that she would be transitioning to a venture partner role. The remaining partners at Benchmark, known for its unique equal partnership structure, include Peter Fanton, Eric Vishria, and Chetan Puttagunta. This model allows all general partners to share management fees and profits equally, distinguishing Benchmark from many other VC firms. As of now, both Benchmark and Lazarte have not provided further comments regarding this development.