Investment adviser · CRD 155215

LIGHT STREET CAPITAL MANAGEMENT, LLC

PALO ALTO, CA, United States · Form ADV filed Mar 27, 2026

Regulatory AUM
$1.57B
Form ADV · Item 5.F
Client accounts
24
Accounts, not individual clients
Employees
14
Reported in this filing
Advisory professionals
5
Investment advisory functions

How this adviser has changed

Annual filings

Regulatory assets under management

Reported regulatory AUM by annual filing$0$1.31B$2.62BFY 2021: $2,620,841,227.00FY 2021FY 2022: $861,554,396.00FY 2022FY 2023: $821,203,422.00FY 2023FY 2024: $1,132,883,120.00FY 2024FY 2025: $1,571,270,789.00FY 2025

Up to five fiscal years, using the latest annual update available at the selected filing date. Asset changes can reflect acquisitions, client flows, and valuations; they are not investment returns.

Annual adviser history and sources
Fiscal yearRegulatory AUMEmployeesFiled
2021$2,620,841,22730Mar 30, 2022
2022$861,554,39615Mar 31, 2023
2023$821,203,42213Mar 27, 2024
2024$1,132,883,12014Mar 27, 2025
2025$1,571,270,78914Mar 27, 2026

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client typeClientsRegulatory assetsShare of AUM
Pooled investment vehicles24$1,571,270,789100.0%
Filing source

Form ADV 2073961 · Mar 27, 2026 · Item 5.D

Reported by LIGHT STREET CAPITAL MANAGEMENT, LLC (CRD 155215).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Private funds & service providers

1 selected fund records

Largest reported gross asset value first; unreported values last. Gross asset value is fund-level disclosure, distinct from adviser AUM and Form D fundraising. Master and feeder funds may overlap.

View all funds in this filing

LIGHT STREET MERCURY MASTER FUND, L.P.Hedge Fund · Master$847MGross asset value
Fund administrator MORGAN STANLEY FUND SERVICES (CAYMAN) LTD. C/O MORGAN STANLEY FUND SERVICES (IRELAND) LIMITED DUBLIN, Ireland Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →
Auditor KPMG GEORGE TOWN, Cayman Islands Other funds reporting this name →
Custodian CITIGROUP GLOBAL MARKETS INC. SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →
Custodian GOLDMAN SACHS & CO. LLC SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →
Custodian MORGAN STANLEY & CO. LLC SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →
Custodian THE NORTHERN TRUST INTERNATIONAL BANKING CORPORATION JERSEY CITY, New Jersey, United States Related to adviser: No Other funds reporting this name →

See filing for more → Showing the first 6 providers by role and name. IAPD may show a newer filing.

Provider details
Annual audit
Yes
Prime brokers
Yes
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

KPMG
PCAOB 1323

CITIGROUP GLOBAL MARKETS INC.
SEC 8-8177

GOLDMAN SACHS & CO. LLC
SEC 8-129

MORGAN STANLEY & CO. LLC
SEC 8-15869

THE NORTHERN TRUST INTERNATIONAL BANKING CORPORATION
LEI 6PTKHDJ8HDUF78PFWH30

Fund details & source
Fund ID
805-1493120656
Reported beneficial owners
3
Minimum commitment
$100K

Form ADV 2073961 · Mar 27, 2026 · Schedule D 7.B.(1)

Reported by LIGHT STREET CAPITAL MANAGEMENT, LLC (CRD 155215).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Services & filing details

Showing values from the selected filing. Latest observed filing does not establish current registration status.

What changed?

Since Mar 27, 2025 · previous imported filing

  • Regulatory AUM$1,132,883,120 → $1,571,270,789
  • Client accounts22 → 24
Filing source

Form ADV 2073961 · Mar 27, 2026 · Items 1 & 5

Reported by LIGHT STREET CAPITAL MANAGEMENT, LLC (CRD 155215).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Management of assets

Discretionary
$1.57B
Non-discretionary
$0

Reported services

Pooled investment vehicle management

Compensation

Percentage of assets · Performance-based

Principal office

505 HAMILTON AVENUE, SUITE 110
PALO ALTO, CA, 94301, United States

CRD 155215

Filing source

Form ADV 2073961 · Mar 27, 2026 · Items 1 & 5

Reported by LIGHT STREET CAPITAL MANAGEMENT, LLC (CRD 155215).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.