Lightspeed Enterprise Companions expands to Southeast Asia, Know-how Information, ETtech
Enterprise capital funding agency Lightspeed Enterprise Companions is increasing its operations to Southeast Asia, the Silicon Valley-based blue-chip investor introduced on Thursday.
In an official assertion, the agency, which has backed a lot of high Indian startups equivalent 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, mentioned it has established its regional headquarters in Singapore, and may have a robust concentrate on the island nation, in addition to Indonesia.
“Our mission at Lightspeed has stayed the identical, at the same time as our international 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 right now,” Ravi Mhatre, founder and managing director at Lightspeed Enterprise Companions, mentioned 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 mentioned.
The agency additionally mentioned it’s constructing a devoted funding crew for the area which is able to embrace two India companions – Bejul Somaia, companion at Lightspeed Enterprise Companions, and who has performed a number one position in organising the Menlo Park, California-based investor’s operations in Asia’s third-largest economic system, and Akshay Bhushan, additionally a companion.
The corporate, nevertheless, 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 got a robust perception within the alternatives right here and the capabilities that founders of this area have demonstrated,” mentioned Bejul Somaia, companion, Lightspeed Enterprise Companions. “Our international footprint, mixed with the native crew’s experience, will allow the area’s founders to raised leverage international 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 funding autos, 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 Collection B rounds, whereas Lightspeed Enterprise Companions Choose IV, which has a corpus of $1.83 billion, will look to speed up current portfolio firms and determine 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 high bets – Oyo, and partly from Byju’s, has until date deployed about $700 million in India throughout two devoted funds and its international arm.
It at the moment manages over $10 billion of dedicated capital. Within the US, it counts firms, equivalent 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 a lot 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.