# Lehman Brothers: portfolio, investments and team > Lehman Brothers is a hedge fund based in United States. 58 investments on record, latest Nov 2009. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/lehman-brothers (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Lehman Brothers Last cheque observed Nov 2009. Silence since then is not evidence of inactivity: our sources miss unannounced rounds. Quiet New fund $3.0M, Oct 2011 Hedge fund Series B Series D Series C Big Data Internet Cheques on record **0%** of best year **0** **cheques in 12 months**, 58 on record Since the last cheque **6185** days **00** hrs **00** min **00** sec Median round **$15M** Rounds led **0 of 58** Sole investor **4 rounds** Exits **26 from the portfolio** Mostly in **United States, 95%** Pitch Lehman Brothers ## Lehman Brothers highlights - 01 58 rounds on record - 02 Mostly Series B and Series D: 54% of its rounds - 03 Sole investor in 4 rounds, median $8.4M - 04 26 exits from the portfolio ## What they do - **Type:** Hedge fund (from a list, unverified) - **Cheque size:** Not stated - **Sectors:** Big Data Internet - **Based in:** New York city, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **58 appearances** - **2009** 4 rounds - **Nov** **[Fluidigm](https://millionrounds.com/company/fluidigm)** Venture · US · venturebeat.com **$7.5M** With 7 others - **Apr** **[Aerovance](https://millionrounds.com/company/aerovance)** Venture · US · venturebeat.com **$38M** With 7 others - **Mar** **[AOptix Technologies](https://millionrounds.com/company/aoptix-technologies)** Series D · US · venturebeat.com **$13M** With 5 others - **Jan** **[Ubicom](https://millionrounds.com/company/ubicom)** Series E · US · ubicom.com **$7.0M** With 5 others - **2008** 15 rounds - **Dec** **[ExaGrid Systems](https://millionrounds.com/company/exagrid-systems)** Series D · US · xconomy.com **$12M** With 2 others - **Oct** **[Zuora](https://millionrounds.com/company/zuora)** Series B · US · venturebeat.com **$15M** With 3 others - **Oct** **[MyShape](https://millionrounds.com/company/myshape)** Series C · US · venturebeat.com **$12M** With 3 others - **Aug** **[Verified Identity Pass](https://millionrounds.com/company/verified-identity-pass)** Series C · US · alleyinsider.com **$44M** With 3 others - **Aug** **[CLEAR](https://millionrounds.com/company/clear)** Series D · US · venturebeat.com **$44M** With 6 others - **Aug** **[Palo Alto Networks](https://millionrounds.com/company/palo-alto-networks)** Series C · US · paloaltonetworks.com **$27M** With 3 others - **Jul** **[VideoIQ](https://millionrounds.com/company/videoiq)** Series B · US · videoiq.com **$10M** With 2 others - **Jun** **[Aspen Aerogels](https://millionrounds.com/company/aspen-aerogels)** Series D · US · deals.venturebeat.com **$37M** With 3 others - **Jun** **[Jaxtr](https://millionrounds.com/company/jaxtr)** Series B · US · techcrunch.com **$10M** Sole investor - **Jun** **[NileGuide](https://millionrounds.com/company/nileguide)** Series B · US · techcrunch.com **$8.0M** With 3 others - **May** **[SearchMe](https://millionrounds.com/company/searchme)** Series E · US · venturebeat.com **$13M** With 7 others - **Apr** **[Storwize](https://millionrounds.com/company/storwize)** Series C · US · byteandswitch.com **$19M** With 2 others - **Feb** **[Ubicom](https://millionrounds.com/company/ubicom)** Series D · US · venturebeat.com **$18M** With 1 other - **Feb** **[PEAK Surgical](https://millionrounds.com/company/peak-surgical)** Series C · US · venturebeat.com **$21M** With 2 others - **Feb** **[Lucky Pai](https://millionrounds.com/company/lucky-pai)** Series B · CN · redherring.com **$25M** Sole investor - **2007** 18 rounds - **Dec** **[KAYAK](https://millionrounds.com/company/kayak)** Series D · US · techcrunch.com **$196M** With 8 others - **Nov** **[Qunar.com](https://millionrounds.com/company/qunar-com)** Series B · CN · thealarmclock.com **$10M** With 2 others - **Nov** **[ExaGrid Systems](https://millionrounds.com/company/exagrid-systems)** Series C · US · masshightech.com **$20M** With 2 others - **Oct** **[SearchMe](https://millionrounds.com/company/searchme)** Series D · US **$15M** With 2 others - **Sept** **[XOJET](https://millionrounds.com/company/xojet)** Growth · US **$143M** With 1 other - **Sept** **[Tribotek](https://millionrounds.com/company/tribotek)** Series E · US **$3.0M** With 1 other - **Sept** **[PowerReviews](https://millionrounds.com/company/powerreviews)** Series B · US · techcrunch.com **$15M** With 2 others - **Aug** **[Kontera](https://millionrounds.com/company/kontera)** Series B · US · venturebeat.com **$10M** With 2 others - **Jul** **[MyShape](https://millionrounds.com/company/myshape)** Series B · US · findarticles.com **Undisclosed** With 3 others - **Jul** **[MarkLogic](https://millionrounds.com/company/marklogic)** Series C · US · sequoiacap.com **$15M** With 1 other - **Jul** **[TheMarkets](https://millionrounds.com/company/themarkets)** Venture · US · thealarmclock.com **$30M** With 4 others - **Jul** **[Light Sciences Oncology](https://millionrounds.com/company/light-sciences-oncology)** Series B · US · venturebeat.com **$30M** With 4 others - **Jun** **[Tumri](https://millionrounds.com/company/tumri)** Series B · US · thealarmclock.com **$10M** With 2 others - **May** **[AOptix Technologies](https://millionrounds.com/company/aoptix-technologies)** Series C · US · deals.venturebeat.com **$15M** With 3 others - **May** **[BATS](https://millionrounds.com/company/bats)** Venture · US **$45M** With 4 others - **Mar** **[Aerovance](https://millionrounds.com/company/aerovance)** Series C · US · deals.venturebeat.com **$60M** With 5 others - **Jan** **[Fluidigm](https://millionrounds.com/company/fluidigm)** Series E · US · deals.venturebeat.com **$17M** With 9 others - **Jan** **[Meru Networks](https://millionrounds.com/company/meru-networks)** Series D · US · venturebeat.com **$28M** With 9 others - **2006** 4 rounds - **Sept** **[PEAK Surgical](https://millionrounds.com/company/peak-surgical)** Series B · US · deals.venturebeat.com **$8.0M** With 1 other - **Sept** **[Linux Networx](https://millionrounds.com/company/linux-networx)** Series D · US · news.cnet.com **$37M** With 3 others - **Jul** **[Kontera](https://millionrounds.com/company/kontera)** Series A · US · kontera.com **$7.0M** With 1 other An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **9 named** AD **Alison Deans** Managing Director of Lehman Brothers Management GP LLC, the General Partner i Filing they signed AA **Andrew A. Johnson** of the Investment Adviser i Filing they signed BC **Bradley C. Tank** of the Corporate Director and the Investment Adviser i Filing they signed DM **David Mancilla** Senior Vice-President of Lehman Brothers Management GP LLC, the General Partner i Filing they signed EN **Eddie Norward Jr** Executive Officer i Filing they signed JV **Joseph V. Amato** of Lehman Brothers Mortgage Opportunity Associates Ltd. (the ""Corporate Director"") and Neuberger Berman Fixed Income LLC, formerly known as Lehman Brothers Asset Management LLC (the ""Investment Adviser"") i Filing they signed MF **Mark Faulkenberg** Senior Vice-President and Authorized Signatory of Lehman Brothers Management GP LLC, the General Partner i Filing they signed SS **Steven S. Rogers** Senior Vice-President and Authorized Signatory of Lehman Brothers Management GP LLC, the General Partner i Filing they signed TJ **Terrence J. Glomski** of the Corporate Director i Filing they signed We also hold **11** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## Exits from the portfolio Companies it backed that were later bought or listed **26 in all** **[Meru Networks](https://millionrounds.com/company/meru-networks)** Bought by [Fortinet](https://millionrounds.com/fund/fortinet) **$44M** May 2015 **[Auxilium Pharmaceuticals](https://millionrounds.com/company/auxilium-pharmaceuticals)** Bought by Endo Health Solutions **$2.6B** Oct 2014 **[Kontera](https://millionrounds.com/company/kontera)** Bought by Amobee **$150M** Jun 2014 **[PowerReviews](https://millionrounds.com/company/powerreviews)** Bought by Viewpoints **$30M** Jun 2014 **[VideoIQ](https://millionrounds.com/company/videoiq)** Bought by Avigilon Corporation **$32M** Dec 2013 **[KAYAK](https://millionrounds.com/company/kayak)** Bought by Priceline **Undisclosed** Nov 2012 **[KAYAK](https://millionrounds.com/company/kayak)** Listed **Undisclosed** Aug 2012 **[Palo Alto Networks](https://millionrounds.com/company/palo-alto-networks)** Listed **Undisclosed** Jul 2012 **[PowerReviews](https://millionrounds.com/company/powerreviews)** Bought by Bazaarvoice **$151M** May 2012 **[NileGuide](https://millionrounds.com/company/nileguide)** Bought by Travora Networks **Undisclosed** Apr 2012 **[Ubicom](https://millionrounds.com/company/ubicom)** Bought by [Qualcomm Incorporated](https://millionrounds.com/fund/qualcomm-incorporated) **Undisclosed** Mar 2012 **[Endeca](https://millionrounds.com/company/endeca)** Bought by [Oracle Corporation](https://millionrounds.com/fund/oracle) **Undisclosed** Oct 2011 **[PEAK Surgical](https://millionrounds.com/company/peak-surgical)** Bought by [Medtronic](https://millionrounds.com/fund/medtronic) **$120M** Jul 2011 **[Tumri](https://millionrounds.com/company/tumri)** Bought by [Collective](https://millionrounds.com/fund/collective) **Undisclosed** Jul 2011 **[Isilon Systems](https://millionrounds.com/company/isilon-systems)** Bought by [EMC](https://millionrounds.com/fund/emc) **$2.3B** Nov 2010 **[TheMarkets](https://millionrounds.com/company/themarkets)** Bought by S&P Capital IQ **Undisclosed** Sept 2010 **[Lucky Pai](https://millionrounds.com/company/lucky-pai)** Bought by Lotte **Undisclosed** Aug 2010 **[Storwize](https://millionrounds.com/company/storwize)** Bought by [IBM (International Business Machines)](https://millionrounds.com/fund/ibm-international-business-machines) **$140M** Jun 2010 **[Meru Networks](https://millionrounds.com/company/meru-networks)** Listed **Undisclosed** Mar 2010 **[Jaxtr](https://millionrounds.com/company/jaxtr)** Bought by Sabse Technologies **Undisclosed** Jun 2009 The latest 20 here. An exit counts when it came after the firm's first round in the company. From historical deal records. ## Companies it bought Acquisitions by the firm itself **Neuberger Berman Group** **Undisclosed** Nov 2003 New fund on file **$3.0M** raised in Oct 2011 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Series B Series D Series C Median round joined **$15M** the round, not its cheque Alone, median **$8.4M** Led 0 of 58 rounds **0%** - **Sole investor:** 4 rounds - **Last cheque:** Nov 2009 - **Exits:** 26 from the portfolio Rounds by stage said on their site - Series B *17* - Series D *14* - Series C *12* - Venture *6* - Series E *5* - Series A *3* Cheques by year Led Joined 1999 2009 Often in the room with - [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 12 - [Accel](https://millionrounds.com/fund/accel) 4 - [DAG Ventures](https://millionrounds.com/fund/dag-ventures) 4 - [Versant Ventures](https://millionrounds.com/fund/versant-ventures) 4 - [Adams Street Partners](https://millionrounds.com/fund/adams-street-partners) 3 - [Austin Ventures](https://millionrounds.com/fund/austin-ventures) 3 **Pitching Lehman Brothers?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Lehman Brothers. A count of rooms they were both in, not a relationship either has claimed. [**Sequoia Capital** VC firm **12** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Accel** VC firm **4** rounds together](https://millionrounds.com/fund/accel)[**DAG Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/dag-ventures)[**Versant Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/versant-ventures)[**Adams Street Partners** VC firm **3** rounds together](https://millionrounds.com/fund/adams-street-partners)[**Austin Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/austin-ventures)[**Burrill & Company** VC firm **3** rounds together](https://millionrounds.com/fund/burrill-and-company)[**Clearstone Venture Partners** VC firm **3** rounds together](https://millionrounds.com/fund/clearstone-venture-partners)[**InterWest Partners** VC firm **3** rounds together](https://millionrounds.com/fund/interwest-partners)[**Venrock** VC firm **3** rounds together](https://millionrounds.com/fund/venrock)[**Alloy Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/alloy-ventures)[**Alta Partners** VC firm **2** rounds together](https://millionrounds.com/fund/alta-partners) ## On podcasts 1 episode naming Lehman Brothers in the title, and 4 more that mention it. - [BRAVE Southeast Asia Tech](https://millionrounds.com/podcasts/brave-southeast-asia) 7 Jan 2024 · 30 min Jelmer Ikink: 10 Year Life Projections, Foxmont VC Founding Vision & Childhood Curiosity (Lehman Brothers & McKinsey) - E365 With [Jelmer Ikink](https://millionrounds.com/person/jelmer-ikink) Mentions [Lehman Brothers](https://millionrounds.com/fund/lehman-brothers) Apple PodcastsShow page ### Mentioned in - [The Biotech Startups Podcast](https://millionrounds.com/podcasts/biotech-startups) 13 Jul 2026 · 33 min 🧬 Cycles, Conviction & Royalty Capital in Biotech Investing | Stephanie Sirota Rerelease (2/3) Apple PodcastsShow page - [Superclusters](https://millionrounds.com/podcasts/superclusters) 25 May 2026 · 1h 12m What Your Lawyer Isn't Telling You About LPA Terms | Apurva Mehta & JD Montgomery Apple PodcastsShow page - [The Biotech Startups Podcast](https://millionrounds.com/podcasts/biotech-startups) 5 Mar 2026 · 41 min 🧬 If You Knew What Could Go Wrong, You’d Never Start - The Founder’s Leap | Sujal Patel (Part 2/4) Apple PodcastsShow page - [The On Call with Insignia](https://millionrounds.com/podcasts/on-call-insignia) 16 Dec 2025 · 10 min Robert Subbaraman, Nomura Global Head of Macro Research, on Japan's return to the investor spotlight Apple PodcastsShow page ## Quick answers about Lehman Brothers ### What does Lehman Brothers invest in? Lehman Brothers invests most often at Series B and Series D (54% of the rounds on record), in sectors such as Big Data and Internet. ### How active is Lehman Brothers? 58 investments on record, 0 of them in the last 12 months. The most recent was in Nov 2009. ### How big are Lehman Brothers's cheques? The median round it joins is $15M. ### Does Lehman Brothers lead rounds? Rarely, if at all: none of its 58 investments on record names it as the lead. ### Where does Lehman Brothers invest? Most of the companies it backs are in the United States (95%) and China (5%). ### Is Lehman Brothers investing now? No investments in the last 12 months; the latest was in Nov 2009. ### Who does Lehman Brothers invest alongside? Most often Sequoia Capital (12 rounds together), Accel (4 rounds together) and DAG Ventures (4 rounds together). ### What kind of investor is Lehman Brothers? Lehman Brothers is a hedge fund based in New York city, United States. ## Raising now? 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