Lightspeed launches US$500 mln fund for India, SEA
Lightspeed India Partners (LSIP) announced on Tuesday the closing of a US$500 million early stage fund (LSIP Fund IV) for India and Southeast Asia, as part of venture capital firm Lightspeed Venture Partners’ (LSVP) US$7.1 billion commitment.
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In addition to the LSIP Fund IV, the US$1.98 billion Lightspeed Venture Partners XIV-A/B, L.P. (Fund XIV), US$2.26 billion Lightspeed Venture Partners Select V, L.P (Select Fund V) and the US$2.36 billion Lightspeed Opportunity Fund II, L.P. (Opportunity Fund II) make up a quartet of US$7.1 billion in funds.
The firm’s first investment in India was in 2007 and over the past five years, its presence has expanded to 28 professionals across three Indian cities — Bengaluru, Delhi, Mumbai — and Singapore, representing one of the largest venture advisory teams in the region.
Lightspeed has been a partner to a number of category leaders in India including Indian Energy Exchange, OYO, Byju’s, Grab, Acko, Razorpay, Udaan, ShareChat and Innovaccer, the company said.
LSVP has been an investor in the blockchain and crypto industry, with firms such as FTX and Alchemy in its portfolio.
The venture capitalist also announced on Tuesday the launch of Lightspeed Faction, a team dedicated to the blockchain and cryptocurrency ecosystem.
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