A US-based venture capital firm, Lightspeed Venture Partners, has launched a $500 million early-stage fund dedicated to India and Southeast Asia.
The investment vehicle, known as Lightspeed India Partners Fund IV (LSIP Fund IV), is a portion of a US $7 billion worldwide pool that the business has created to support early and growth-stage firms.
Prior Lightspeed India Partners Fund III, which was completed in 2020, had an initial size of US $275 million.
“From our early-stage fund, we lead seed to series B rounds in tech-driven startups. Our check size ranges from US $100,000 up to US $15 million, depending on the company, the opportunity, and its stage of evolution,” Rahul Taneja, partner at Lightspeed India, told as per reports.
Several well-known firms in India and Southeast Asia, including Energy Exchange, Oyo, Byju’s, Grab, Acko, Razorpay, Udaan, and ShareChat, have received funding from Silicon Valley-based funds.
Lightspeed will continue to support growth-stage businesses in India and Southeast Asia through its Select and Opportunity investment vehicles in addition to investing in early-stage entrepreneurs through LSIP Fund IV.
“Over the past five years, the firm’s presence has expanded to 28 professionals across four locations of Bengaluru, Delhi, Mumbai, and Singapore, representing one of the largest venture advisory teams in the region,” said the VC in a statement.
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