Lightspeed gathers USD 275 Million from its first India Fund By CIOReviewIndia Team

Lightspeed gathers USD 275 Million from its first India Fund

CIOReviewIndia Team | Tuesday, 18 August 2020, 04:38 IST

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Lightspeed has USD 275 million

Prominent startups which include Oyo, Byju’s and Udaan have raised about USD 275 million for Lightspeed for its third India-focused fund. 

Till date this Silicon Valley-based firm which had earlier registered exits of almost USD 900 million last year has deployed about  USD 700 million in India across two dedicated funds and also from its other global arm. 

Depending on the current stage of the business as well as competitiveness, Lightspeed’s first cheque was about USD 1-3 million in the early-stage deal-making market. 

Lightspeed Venture Partners has also said that the sponsors in funds are still looking at India as a discretionary asset class. 

It is expected that the new fund to back early-stage startups will be initiated in the last quarter of this year. Followed by a second fund of USD 175 million in 2018, Lightspeed had raised its first Indian dedicated fund USD 135 million in 2015. 

Furthermore, one of the largest corpuses for venture investments in India, Sequoia Capital India raised $1.35 billion to deploy in India and Southeast Asia last month. 

“The size of our fundraises was proportionate to the early-stage opportunity at that time also, as a global firm, we have several funds to double down our Commitment should the opportunity present itself,” said Dev Khare, Partner, Lightspeed. Totalling $4.2 billion, lightspeed announced the closing of three new global funds in April this year. 

 

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