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The global venture capital firm Lightspeed Venture Partners has closed its second Indian fund with a $ 175 million corpus. The Silicon Valley firm is now looking to invest in another batch of start-ups.
Investors in the second Indian fund include limited partnerships, companies that invest in venture capital firms in the United States and East Asia. 19659002] "LP's interest in the second largest Indian fund reflects the increasingly varied opportunities in India.There were five years ago, mostly there were mainstream consumer electronics startups. there is a wide range of opportunities, including content and media, B2B markets, B2B software, financial technologies and more, "said Bejul Somania, CEO of Lightspeed India
The capital under management in the country now stands at $ 310 M. This includes a $ 115 million fund specifically Indian, raised in 2015 to invest heavily in the emerging landscape of India.
Lightspeed Venture Partners via Lightspeed India has been investing in India since 2004, with a focus on direct and cross-border businesses. It typically invests $ 1 to $ 25 million in start-ups growing or starting ge, seeking to disrupt or transform large domestic economy markets. The project also reduces larger checks with its US fund.
"Our strategy remains the same: Series A and Series A contracts," said Dev Khare, a partner at Lightspeed India Partners Advisors.
new spaces have opened and it is possible to continue early and help startups build their management teams and guide them in the strategy that will adapt to the Indian market as opposed to to US or Chinese markets.
Lightspeed Venture Partners owns some of the most outstanding startups in its portfolio, including OYO Hotels, BYJU's (which recently acquired unicorn status), and ShareChat, among others. Of its first fund of $ 135 million, the company made 20 investments including financing of $ 50 million to Udaan, a marketplace for companies
. In parallel with Khare and Somaia, Lightspeed has three other partners: Akshay Bhushan, Harsha Kumar and Vaibhav Agarwal. The firm also named Andreessen Horowitz's former CEO, Hemant Mohapatra, as its sixth partner. Mohapatra will join Lightspeed Venture Partners next August
Other venture capitalists, such as Sequoia Capital, Nexus Venture Partners and Inventus Capital, are expected to raise their next funds this year.
[The development was reported by LiveMint.]
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