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Victor Lazarte Departs Benchmark to Launch His Own Investment Firm
July 24, 2025
After two years as a general partner at venture capital firm Benchmark, Victor Lazarte is striking out on his own. The investor and entrepreneur announced Thursday on X (formerly Twitter) that he’s leaving the firm to start a new investment practice.
Lazarte first rose to prominence as the co-founder of Wildlife Studios, a mobile gaming company that reached an estimated $3 billion valuation in 2020. During his time building Wildlife, Lazarte worked with many top-tier venture firms, including Benchmark—where he later joined as a partner.
At Benchmark, Lazarte backed several high-profile startups, including Mercor (recruiting and data labeling), HeyGen (AI-powered video intelligence), and Decart AI (AI infrastructure). He recently informed founders in his portfolio about his plans to move on, according to a source familiar with the matter.
His exit marks the second departure from Benchmark’s partnership this year. In April, Sarah Tavel announced she would be transitioning into a venture partner role. Following Lazarte’s departure, the firm’s current partners include Peter Fenton, Eric Vishria, and Chetan Puttagunta.
Benchmark has long stood out among venture firms for its equal partnership model, where general partners split profits and management fees equally—an uncommon structure in the industry. While the firm and Lazarte did not offer additional public comments, his next move is expected to attract attention, given both his entrepreneurial and investing track record.
As he embarks on this next chapter, Lazarte joins a growing list of high-profile investors choosing to build their own firms, aiming to carve out new strategies in a rapidly evolving venture landscape.
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