Venture capital firm, Lightspeed India Partners Advisors LLP has raised $275 million, in its third India-focussed fund, comparatively larger fund than that it has raised in second fund round of $175 million in Dec, 2018. The fund raised will help the firm to continue its focus in early and growth phase opportunities in start-ups across consumer Internet and software space.
US-based Venture Capital Firm, Lightspeed is operating in India with Lightspeed India Partners for more than 13 years and has raised $135 million as its first dedicated fund for India of in 2015. Since then, the firm has invested in prominent startups including Oyo, Byju, Sharechat, and Udaan. The first cheque offered by the Lightspeed India Group depends on the stage of the business and the competitive dynamics of market and typically ranges between $1-$3 million.
In an interview Lightspeed partner, Harsha Kumar said the third fund raised will help the firm to focus on emerging sectors such as health and wellness, fintech and B-C brands, besides other consumer internet segments. Due to Covid-19, founders and stakeholders had expected a fall in the early stage of funding volumes. But, interest in seed deals has bounced back in India, she added.
Lightspeed has six Partners including Kumar, Akshay Bhushan, Vaibhav Agarwal, Dev Khare, Hemant Mohapatra, and Bejul Somaia. Lightspeed Partners is in the one of few funds of the country that has a woman (Harsha Kumar) in its senior ranks. The Group manages more than $10 billion across the Global Lightspeed Platform, with investment professionals and advisors spreading across countries including India, the Silicon Valley, China, Israel, Southeast Asia and Europe.