Lightspeed joins the list of a few fund houses that have raised funds in a slowing cycle for fundraising. The fourth fund from Lightspeed, which has been investing in India since 2007, was hard-capped at $500 million. Hard capped means company did not want to raise additional capital.
VC firm Lightspeed on Tuesday announced that it raised $500 million for India and Southeast Asia as the firm deepens its commitment in the region. This is part of the $7 billion that the fund house has raised.
Lightspeed joins the list of a few fund houses that have raised funds in a slowing cycle for fundraise. The fourth fund from Lightspeed, which has been investing in India since 2007, was hard-capped at $500 million. Hard capped means company did not want to raise additional capital.
This is also one of the largest funds dedicated to India and Southeast Asia. Over the past 5 years, the firm’s presence has expanded to 28 professionals across four locations, representing one of the largest venture advisory teams in the region.
Lightspeed began investing in India more than 10 years ago and has amassed an impressive portfolio of several fast-growing startups, including Byju’s (India’s most valuable startup), SaaS firm Innovaccer, e-commerce giant Udaan, social media giant ShareChat and payments giant Razorpay.
The firm, which has a team of nine partners in India and Southeast Asia, is nearly doubling the size of its fund because it’s seeing more opportunities in the regions as a young crop of startups attempt to solve deeper and newer problems, said Rahul Taneja, a partner at Lightspeed.
