Victor Lazarte, a venture capitalist at the prominent firm Benchmark, has announced his departure from the company after a two-year tenure, as revealed in a post on X on Thursday. He is set to establish his own investment venture.

Lazarte initially gained recognition in the tech industry for co-founding Wildlife Studios, a mobile gaming company that was valued at approximately $3 billion in 2020. During its fundraising efforts, Wildlife Studios received investments from numerous venture capital firms, including Benchmark.

Throughout his time at Benchmark, Lazarte invested in several notable startups, including Mercor, a recruiting and data labeling startup, HeyGen, an AI video intelligence platform, and Decart AI, an AI infrastructure company. These investments demonstrate his focus on innovative technologies and promising early-stage companies.

In his announcement, Lazarte stated that he is leaving Benchmark to “build a new investment practice,” indicating his desire to explore new opportunities and create a distinct investment approach. According to sources, he had previously informed his portfolio companies about his decision to depart from Benchmark.

Lazarte’s departure marks the second instance of an investor stepping down from Benchmark’s partnership this year. Earlier in April, Sarah Tavel announced her transition to a venture partner role, highlighting the evolving landscape of the firm’s leadership.

Following Lazarte’s exit, the remaining partners at Benchmark include prominent figures such as Peter Fenton, Eric Vishria, and Chetan Puttagunta, who will continue to guide the firm’s investment strategies and operations.

Notably, Benchmark operates as an equal partnership, where all general partners share management fees and profits equally, unlike many other venture capital firms where senior partners typically receive a greater share. Both Benchmark and Lazarte have not provided additional comments on the matter at this time.