Lightspeed raises $500 million corpus to back early-stage startups in India, SE Asia
- ByStartupStory | July 13, 2022
Lightspeed Venture Capital firm has secured a $500 million corpus to support early-stage startups in India and Southeast Asia, as part of a wider $7 billion fundraiser to invest in tech firms globally. “The closure of Lightspeed India IV now at $500 million hard ceilings demonstrates the firm’s growing commitment to India and South East Asia since our initial India investment in 2007,” the firm stated.
Lightspeed has a strong portfolio in India, which includes Indian Energy Exchange, Oyo, Byju’s, Razorpay, Sharechat, and Innovaccer. The firm’s reach has grown to 28 professionals over 4 locations in the last five years: Bengaluru, Delhi, Mumbai, and Singapore. “We continue to see the region’s opportunity extending and deepening, spearheaded by world-class entrepreneurs and an ever-expanding potential for technology to alter the economy in India and Southeast Asia,” the firm stated.
Bejul Somaia, a partner at the firm’s India arm, was also promoted to a global role, in addition to his present duties advising about investments in India, Southeast Asia, and Europe. “In the early 2000s, Lightspeed began to establish a worldwide footprint because we believed that the future technology and entrepreneurship will be global.” “Today, Lightspeed has 70 investors spread over 12 locations worldwide,” Somaia stated.
“By intentionally forming cross-border deal teams, we can provide founders with local market experience and ties, as well as deep industry domain knowledge.” As a result, we are all exposed to and learning from, the global innovation that is taking place to best satisfy our founders,” he said.
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