Gunderson Dettmer represented client Lightspark in announcing its launch as a Lightning Network infrastructure company. The financing round was co-led by a16z crypto and Paradigm and included participation from Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners, Zeev Ventures and others.

In the announcement of the transaction, Lightspark CEO David Marcus, a former Meta executive, said the decision to found the company is driven by the “need for change in our payments and financial systems.” Lightspark’s platform aims to focus on exploring, building, and extending Bitcoin’s capabilities.

The Gunderson deal team was led by corporate partner Mike Heath and included corporate associates Nick Feldman and Trey Calver with support from Tech/IP partner Tim Greene and associate Radhika Raman.

Companies:
Lightspark
a16z
Paradigm
Thrive Capital
Coatue
Felix Capital
Ribbit Capital
Matrix Partners
Zeev Ventures