Lightspeed Enterprise Companions expands to Southeast Asia, Know-how Information, ETtech
In an official assertion, the agency, which has backed plenty of prime Indian startups similar to hospitality chain Oyo Resorts & Properties, ed-tech main Byju’s, business-to-business on-line market Udaan, social media firm Sharechat and healthcare information platform Innovaccer amongst others, stated it has established its regional headquarters in Singapore, and could have a robust give attention to the island nation, in addition to Indonesia.
“Our mission at Lightspeed has stayed the identical, whilst our world presence has expanded from Silicon Valley, Israel and China to India, Europe and now Southeast Asia. To assist daring entrepreneurs who’re constructing tomorrow’s firms at this time,” Ravi Mhatre, founder and managing director at Lightspeed Enterprise Companions, stated within the official assertion.
“Southeast Asia is undoubtedly one of many fastest-growing innovation ecosystems and we stay up for constructing deep, long-lasting relationships with founders and the broader tech group.” he stated.
The agency additionally stated it’s constructing a devoted funding group for the area which is able to embody two India companions – Bejul Somaia, companion at Lightspeed Enterprise Companions, and who has performed a number one function in establishing the Menlo Park, California-based investor’s operations in Asia’s third-largest economic system, and Akshay Bhushan, additionally a companion.
The corporate, nonetheless, didn’t specify if Somaia and Bhushan will each even be relocating to Singapore.
“With a big, tech-savvy and younger inhabitants, Southeast Asia is main the cost in technology-driven innovation. We’ve a robust perception within the alternatives right here and the capabilities that founders of this area have demonstrated,” stated Bejul Somaia, companion, Lightspeed Enterprise Companions. “Our world footprint, mixed with the native group’s experience, will allow the area’s founders to higher leverage world alternatives and we’re thrilled to companion with them.”
The newest announcement comes about 5 months after the enterprise capital agency introduced the closure of three new investment vehicles, totalling $4.2 billion in recent capital commitments.
Lightspeed Enterprise Companions XIII has raised $890 million and can assist early-stage firms from seed to Sequence B rounds, whereas Lightspeed Enterprise Companions Choose IV, which has a corpus of $1.83 billion, will look to speed up present portfolio firms and establish new investments.
And, Lightspeed Alternative Fund will use $1.5 billion to spend money on breakout firms throughout the markets that the multi-stage enterprise capital agency operates in, together with China, India, Israel, Europe and Southeast Asia.
Individually, final month, ET had reported that the agency’s native unit had raised $275 million for its third India-focused fund. The agency, which registered exits of almost $900 million final yr from its two prime bets – Oyo, and partly from Byju’s, has until date deployed about $700 million in India throughout two devoted funds and its world arm.
It at the moment manages over $10 billion of dedicated capital. Within the US, it counts firms, similar to Snap, Nest, Nutanix, China’s Pinduoduo and Goop, amongst others, in its portfolio.
Lightspeed has already a robust presence in SE Asia, having backed plenty of main ventures, together with, regional super-app Seize, social commerce platform Chilibeli, B2B market app Ula, transport gateway firm Shipper and enterprise synthetic intelligence software program supplier NextBillion.ai.