Sources: Lightspeed wants to become a registered investment adviser, letting it use more than 20% of its funds, the cap for VC firms, to trade secondary markets (Tabby Kinder/Financial Times)

Tabby Kinder / Financial Times:
Sources: Lightspeed wants to become a registered investment adviser, letting it use more than 20% of its funds, the cap for VC firms, to trade secondary markets  —  Move is a sign of how traditional investment models are under threat by a challenging VC environment