Form D · Hedge Fund

Light Street Photon, L.P.

Palo Alto, CA · CIK 0002009519

Offering snapshot reported Nov 13, 2025 · SEC filing

Reported sold: $6.55M
Investors reported: 6
Minimum accepted: $2M
First sale: Apr 1, 2024

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$6,525,000 → $6,550,000

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Nov 13, 2025	Amendment	$6,550,000	$25,000vs Jan 24, 2025	6	SEC filing
Jan 24, 2025	Amendment	$6,525,000	No comparison	6	SEC filing
Jan 25, 2024	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Equity, Pooled investment fund, Other
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0 (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-503421

Limited Partner Interests

Source: Form D, filed Nov 13, 2025. Minimum accepted may differ from a standard advertised minimum.

Fund connections

Each card uses that adviser's latest imported filing. Filing dates can differ; these disclosures do not confirm a current relationship.

Matched by reported Form D file number

LIGHT STREET PHOTON, L.P.

Investment adviser: LIGHT STREET CAPITAL MANAGEMENT, LLC

Gross asset value: $26.4M
Beneficial owners: 8
ADV minimum commitment: $2M

Reported in Form ADV on Mar 27, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator MORGAN STANLEY FUND SERVICES USA LLC PURCHASE, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor KPMG LLP NEW YORK, New York, United States 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 →

Prime broker MORGAN STANLEY & CO. LLC SAN FRANCISCO, California, United States Other funds reporting this name →

Provider details

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

KPMG LLP
PCAOB 185

MORGAN STANLEY & CO. LLC
SEC 8-15869

THE NORTHERN TRUST INTERNATIONAL BANKING CORPORATION
LEI 6PTKHDJ8HDUF78PFWH30

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Fund asset history · 3 annual observations

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Fiscal year	Gross assets	Beneficial owners	ADV filed
2023	$0	0	Mar 27, 2024
2024	$11,657,829	7	Mar 27, 2025
2025	$26,425,146	8	Mar 27, 2026

Filing source

Form ADV 2073961 · Mar 27, 2026 · Schedule D 7.B.(1), fund 805-6255608460

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.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Glen T. Kacher	Executive
Light Street Capital Management, Llc	Executive
George Lynch	Executive
Theo J. Robins	Executive
Robert M. Wenzell	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

505 Hamilton Avenue, Suite 110
Palo Alto, CA, 94301