Lightspeed Venture Partners is seeking about $600 million through a secondary transaction code-named Project Mercury that is designed to extend its exposure to OpenAI and other artificial intelligence companies while adding to Anthropic. The deal involves assets from several Lightspeed secondary funds, including Select V, Opportunity II and part of a separately managed account, and is intended to offer liquidity to existing investors without forcing sales of high-profile AI holdings. Earlier reporting in this topic record described a five-asset continuation vehicle led by Coller Capital and advised by UBS Group AG that would transfer stakes in OpenAI, Verkada, Rippling, Reflection AI and Glean while adding Anthropic exposure. The latest Bloomberg account centers on Lightspeed’s effort to raise the capital through secondary-market structures as venture firms look for ways to hold prized private-company positions longer amid difficult exit conditions.