Weiss Peck & Greer Venture Partners, a global venture capital firm, has changed its name to Lightspeed Venture Partners, and has raised a new $1bn (€1.15bn) fund focusing on technology investments globally.

The change in identity has come about because Lightspeed wanted to establish its independence following the sale of Weiss Peck & Greer to the asset management arm of Rabobank two years ago. As of today, Lightspeed is now an independent entity, both in name and structure.