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Lightspeed Entities and Directors Disclose Rubrik (RBRK) Stakes — Schedule 13G/A

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13G/A

Rhea-AI Filing Summary

Lightspeed-affiliated investors and three named individuals reported beneficial ownership stakes in Rubrik, Inc. The filing (Schedule 13G/A) discloses holdings as of June 30, 2025: several Lightspeed entities collectively report Class B holdings (largest single Lightspeed pool: 5,549,816 shares) and affiliated special-purpose vehicles report additional Class B shares. Individual reporting persons Barry Eggers, Ravi Mhatre and Peter Nieh each hold substantial Class A positions: 415,424, 552,162 and 515,423 shares respectively, with each individual’s aggregate beneficial ownership reported around 13.2–13.35 million shares representing 9.1% of the class. The percentage calculations reflect 123,563,326 Class A shares outstanding (reported May 31, 2025) plus 9,641,000 shares issuable on conversion of Class B shares held by the Reporting Persons. The Reporting Persons expressly disclaim status as a "group." The filing is signed and dated August 14, 2025.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Lightspeed entities and three insiders disclose meaningful, disclosed stakes (~4.2% Lightspeed umbrella; ~9.1% each for named individuals), clarifying ownership structure.

The Schedule 13G/A aggregates detailed beneficial ownership across multiple Lightspeed funds and related entities and shows material individual holdings by Eggers, Mhatre and Nieh. The filing uses the issuer's May 31, 2025 share count plus 9,641,000 shares from conversion to compute percentages, yielding reported stakes of up to 9.1% for each named individual and up to 4.2% for certain Lightspeed management entities. This provides investors clear, SEC-compliant transparency on who holds convertible Class B positions and their potential dilutive effect when converted to Class A common stock.

TL;DR: Filing clarifies voting and dispositive arrangements: holdings are largely reported as shared voting/dispositive power and Reporting Persons disclaim being a group.

The report itemizes sole versus shared voting and dispositive power for each filing entity: most Lightspeed vehicles report 0 sole voting/dispositive power and significant shared power (examples: 5,549,816 shared voting for Lightspeed IX; LS SPV shows 5,862,326 shared voting). The explicit disclaimer that the Reporting Persons are not a "group" and the layered GP/ultimate GP structure (Cayman entities as general partners) are significant corporate-governance disclosures that clarify control lines and trustee/manager relationships for shareholders and the board.






Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)






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SCHEDULE 13G



Lightspeed Venture Partners IX, L.P.
Signature:/s/ Ravi Mhatre
Name/Title:See Note 1
Date:08/14/2025
Lightspeed General Partner IX, L.P.
Signature:/s/ Ravi Mhatre
Name/Title: By Lightspeed Ultimate General Partner IX, Ltd., its General Partner, By Ravi Mhatre, Director
Date:08/14/2025
Lightspeed Ultimate General Partner IX, Ltd.
Signature:/s/ Ravi Mhatre
Name/Title:By Ravi Mhatre, Director
Date:08/14/2025
Lightspeed SPV I, LLC
Signature:/s/ Ravi Mhatre
Name/Title:By LS SPV Management, LLC, its Manager, By Ravi Mhatre, Managing Member
Date:08/14/2025
Lightspeed SPV I-B, LLC
Signature:/s/ Ravi Mhatre
Name/Title:By LS SPV Management, LLC, its Manager, By Ravi Mhatre, Managing Member
Date:08/14/2025
Lightspeed SPV I-C, LLC
Signature:/s/ Ravi Mhatre
Name/Title:By LS SPV Management, LLC, its Manager, By Ravi Mhatre, Managing Member
Date:08/14/2025
LS SPV Management, LLC
Signature:/s/ Ravi Mhatre
Name/Title:By Ravi Mhatre, Managing Member
Date:08/14/2025
Lightspeed Venture Partners Select II, L.P.
Signature:/s/ Ravi Mhatre
Name/Title:See Note 2
Date:08/14/2025
Lightspeed General Partner Select II, L.P.
Signature:/s/ Ravi Mhatre
Name/Title:By Lightspeed Ultimate General Partner Select II, Ltd., its General Partner, By Ravi Mhatre, Director
Date:08/14/2025
Lightspeed Ultimate General Partner Select II, Ltd.
Signature:/s/ Ravi Mhatre
Name/Title:By Ravi Mhatre, Director
Date:08/14/2025
Lightspeed Venture Partners X, L.P.
Signature:/s/ Ravi Mhatre
Name/Title:See Note 3
Date:08/14/2025
Lightspeed General Partner X, L.P.
Signature:/s/ Ravi Mhatre
Name/Title:By Lightspeed Ultimate General Partner X, Ltd., its General Partner, By Ravi Mhatre, Director
Date:08/14/2025
Lightspeed Ultimate General Partner X, Ltd.
Signature:/s/ Ravi Mhatre
Name/Title:By Ravi Mhatre, Director
Date:08/14/2025
Lightspeed Management Company, L.L.C.
Signature:/s/ Ravi Mhatre
Name/Title:By Ravi Mhatre, Managing Member
Date:08/14/2025
Barry Eggers
Signature:/s/ Barry Eggers
Name/Title:Barry Eggers
Date:08/14/2025
Ravi Mhatre
Signature:/s/ Ravi Mhatre
Name/Title:Ravi Mhatre
Date:08/14/2025
Peter Nieh
Signature:/s/ Peter Nieh
Name/Title:Peter Nieh
Date:08/14/2025

Comments accompanying signature: Note 1: By Lightspeed General Partner IX, L.P., its General Partner, By Lightspeed Ultimate General Partner IX, Ltd., its General Partner, By Ravi Mhatre, Director Note 2: By Lightspeed General Partner Select II, L.P., its General Partner, By Lightspeed Ultimate General Partner Select II, Ltd., its General Partner, By Ravi Mhatre, Director Note 3: By Lightspeed General Partner X, L.P., its General Partner, By Lightspeed Ultimate General Partner X, Ltd., its General Partner, By Ravi Mhatre, Director
Exhibit Information

Exhibit 99.1 Joint Filing Agreement Joint Filing Agreement (incorporated herein by reference to Exhibit 99.1 to Schedule 13G, filed on May 15, 2025).

Rubrik Inc

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Software - Infrastructure
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