Victor Lazarte, a prominent figure in the venture capital landscape, has announced his departure from Benchmark after a two-year tenure to launch his own investment firm. This move marks a significant transition in Lazarte’s career, reflecting his entrepreneurial spirit and commitment to fostering innovation.
A Storied Career in Technology and Investment
Lazarte first gained recognition as the co-founder and CEO of Wildlife Studios, a mobile gaming company he established in 2010 alongside his brother, Arthur Lazarte. Under his leadership, Wildlife Studios expanded its reach globally, engaging billions of players and achieving a valuation of approximately $3 billion by 2020. In June 2023, Lazarte transitioned from his role as CEO to become the chairman of the board, signaling a shift towards new professional endeavors.
In 2023, Lazarte joined Benchmark as a general partner, bringing his extensive operational experience to the venture capital firm. During his time at Benchmark, he focused on investments in artificial intelligence and technology sectors, leading funding rounds for companies such as HeyGen, an AI video creation platform, and Mercor, a recruiting and data labeling startup. His contributions were instrumental in identifying and supporting innovative startups poised for significant growth.
Transition to Independent Venture Capital
On July 24, 2025, Lazarte announced his decision to leave Benchmark to build a new investment practice, as stated in his post on X (formerly Twitter). This decision underscores his desire to create a venture firm that aligns with his vision and investment philosophy. Sources indicate that Lazarte has communicated his plans to his portfolio companies, ensuring a smooth transition as he embarks on this new venture.
Lazarte’s departure follows that of Sarah Tavel, another Benchmark partner who transitioned to a venture partner role in April 2025. These changes have led to a reshaping of Benchmark’s partnership structure, with remaining partners including Peter Fenton, Eric Vishria, and Chetan Puttagunta. Benchmark is known for its equal partnership model, where all general partners share management fees and profits equally, fostering a collaborative and balanced decision-making environment.
Implications for the Venture Capital Landscape
Lazarte’s move to establish his own firm reflects a broader trend of experienced operators transitioning into venture capital roles. His background as a successful entrepreneur provides him with a unique perspective on the challenges and opportunities faced by startups. This experience is invaluable in identifying promising ventures and providing strategic guidance to emerging companies.
The venture capital industry has seen a growing number of founders leveraging their operational expertise to become investors. This shift brings a hands-on approach to venture capital, emphasizing the importance of understanding the founder’s journey and the intricacies of building a successful company.
Looking Ahead
As Lazarte embarks on this new chapter, the venture capital community will be keenly observing the development of his firm and the investment strategies he employs. His track record suggests a focus on technology-driven companies with the potential to disrupt and lead their respective industries.
The departure of key partners from established firms like Benchmark also highlights the dynamic nature of the venture capital sector. It underscores the continuous evolution of investment strategies and the emergence of new firms that bring fresh perspectives to the industry.
In conclusion, Victor Lazarte’s decision to leave Benchmark and start his own venture firm is a significant development in the venture capital landscape. It reflects his entrepreneurial drive and commitment to supporting innovative startups. As he builds his new firm, the industry will be watching closely to see the impact of his investments and the success of the companies he chooses to support.
