Netskope Debut to Deliver Over $1 Billion Windfall to Lightspeed

Netskope Inc.backer Lightspeed Venture Partners is poised to see a return of more than five times its invested capital in the cybersecurity company from its initial public offering.

Netskope priced its shares at $19 on Wednesday, hitting the top of the marketed range and raising $908 million. The stock opened even higher in its trading debut on Thursday at $23, lifting the value of Lightspeed’s stake to about $1.5 billion. The venture capital firm, which was Netskope’s largest investor, put $272 million into the company beginning more than a decade ago, a person familiar with the matter said, asking ...