Lightspeed Venture closes $800-mn fund

Mumbai: Silicon Valley based venture capital firm Lightspeed Venture Partners has announced the closing of $800-million fund. The new fund “Lightspeed Venture Partners VIII, L.P”, capitalised with invest $800 million of limited partner commitments, will invest in start up and growth stage companies in India and China and early-stage technology companies in Israel and the US, said a Lightspeed release.

“We expect to deploy substantial capital in India, given the large number of high quality start-ups and growth companies here,” observed Mr Srini Vudayagiri, Managing Director, Lightspeed Advisory Services India, who advises the firm’s investment efforts in India.

“The new fund will leverage our investment platform to support the creation of industry-leading companies in India, China, Israel and the US,” said Mr Barry Eggers, Managing Director, Lightspeed Venture Partners. “In India and China, Lightspeed is pursuing a balanced investment programme encompassing early-stage technology companies as well as growth-stage companies in a range of product and service businesses,” the venture capital firm said.

“In India, specifically, Lightspeed’s investment interest is in technology-led opportunities, as well as in non-technology businesses, stemming from the strong growth in domestic consumption and infrastructure investment,” it said. Lightspeed’s new fund collection of $800 million was above the firm’s target of $675 million and with this closing Lightspeed’s base of committed capital in total went up over $2 billion.

In the US and Israel, Lightspeed will continue to focus on seed and early-stage companies primarily in information technology and cleantech markets. Lightspeed has the experience of working with more than 150 companies.