SCHEDULE 13G/A: Lightspeed Entities and Principals Disclose Significant Stake in Rubrik, Inc. Class A Common Stock
Beneficial Ownership Report
Lightspeed Venture Partners and its affiliated entities, along with key principals Barry Eggers, Ravi Mhatre, and Peter Nieh, have filed an amended Schedule 13G disclosing beneficial ownership of up to 18.1% of Rubrik, Inc.'s Class A Common Stock as of March 31, 2025.
Summary
- Lightspeed Venture Partners IX, L.P., Lightspeed General Partner IX, L.P., and Lightspeed Ultimate General Partner IX, Ltd. each beneficially own 9,989,816 shares, representing 8.8% of Rubrik, Inc.'s Class A Common Stock.
- LS SPV Management, LLC beneficially owns 10,032,326 shares, representing 8.9% of the Class A Common Stock.
- Barry Eggers beneficially owns 22,666,924 shares, representing 18.0% of the Class A Common Stock.
- Ravi Mhatre beneficially owns 22,784,277 shares, representing 18.1% of the Class A Common Stock.
- Peter Nieh beneficially owns 22,766,923 shares, representing 18.1% of the Class A Common Stock.
- The beneficial ownership includes both Class A and Class B common stock, with Class B shares convertible into Class A shares.
- The percentages are calculated based on 103,167,994 shares of Rubrik's Class A common stock outstanding as of February 28, 2025, adjusted for the full conversion of Class B common stock beneficially owned by the reporting persons.
- The reporting persons explicitly disclaim status as a 'group' for the purposes of this Schedule 13G filing.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, which is neutral in sentiment. It does not contain positive or negative operational or financial news about the company itself.
Future Outlook
NA
Industry Context
This filing is a standard disclosure of significant ownership by a venture capital firm and its principals in a publicly traded company, Rubrik, Inc. It reflects the continued investment and oversight by Lightspeed Venture Partners, a prominent venture capital firm, in a company that has recently gone public or is preparing for public trading, indicating their long-term commitment or strategic positioning.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Ownership Structure Disclosure | The filing details the complex ownership structure involving various Lightspeed entities (LPs, General Partners, SPVs) and individuals (Barry Eggers, Ravi Mhatre, Peter Nieh) who share voting and dispositive power over Rubrik shares. Eggers, Mhatre, and Nieh are directors/managing members of the controlling entities. | 2025-03-31 | Provides transparency into the significant influence and control exercised by Lightspeed Venture Partners and its principals over Rubrik, Inc. through their substantial equity stake. The explicit disclaimer of forming a 'group' is a legal nuance for compliance. |
Related Party Transactions
- The filing details the beneficial ownership of Rubrik, Inc. shares by various Lightspeed Venture Partners entities and their principals (Barry Eggers, Ravi Mhatre, Peter Nieh). These individuals and entities are interconnected through general partner and managing member relationships, indicating a network of related parties exercising shared voting and dispositive power over the reported shares.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant institutional and individual ownership, which can influence corporate governance and strategic decisions. The large stake held by Lightspeed and its principals suggests a strong vested interest in Rubrik's long-term performance.
Key Dates
| Date | Description |
|---|---|
| 2025-02-28 | Date as of which 103,167,994 shares of Rubrik's Class A common stock were outstanding, as reported in the Issuer's Annual Report on Form 10-K. |
| 2025-03-20 | Date Rubrik, Inc. filed its Annual Report on Form 10-K with the SEC. |
| 2025-03-31 | Date of event which requires the filing of this Schedule 13G statement. |
| 2025-05-15 | Date of filing of this Schedule 13G Amendment No. 1. |
Keywords
Rubrik Inc., Lightspeed Venture Partners, Schedule 13G, Beneficial Ownership, Class A Common Stock, SEC Filing, Institutional Investor, Venture Capital, Shareholding Disclosure, Equity Stake
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