Victor Lazarte is leaving Benchmark after two years as a venture capitalist to start his own investment venture, as announced in a post on X on Thursday. Lazarte gained prominence in the tech industry as the co-founder of Wildlife Studios, a mobile gaming company valued at an estimated $3 billion in 2020. Wildlife secured funding from several venture capital firms, including Benchmark.
During his tenure at Benchmark, Lazarte backed several high-profile startups, including Mercor, a recruiting and data labeling startup, HeyGen, an AI video intelligence platform, and Decart AI, an AI infrastructure company. In his announcement, Lazarte stated his intention to “build a new investment practice.” Sources indicate he had already informed his portfolio companies about his departure from Benchmark.
Lazarte is the second investor to exit Benchmark’s partnership this year. Earlier in April, Sarah Tavel announced her transition to a venture partner role. Following Lazarte’s departure, the remaining partners at Benchmark include Peter Fanton, Eric Vishria, and Chetan Puttagunta.
Unlike many VC firms where senior partners receive a larger share of fees and profits, Benchmark operates as an equal partnership, with all general partners splitting fees and returns evenly. Neither Benchmark nor Lazarte provided additional comments on the matter.
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