Lightspeed Venture expands its operations to South-East Asia
Lightspeed Venture Partners, a US-based venture capital firm, has announced its launch in Southeast Asia. In a LinkedIn post, the company said it had officially established its regional headquarters in Singapore "to co-operate and support courageous entrepreneurs building disruptive organizations". This is the sixth global expansion for Lightspeed after India, the United States, China, Israel, and Europe. Lightspeed will be the second vice-chancellor to establish a base in Southeast Asia after Sequoia.
Separately, a LinkedIn post by Lightspeed partner and now Southeast Asia team partner Akshay Bhushan shared more details on how their new base in Singapore, recognized as an international startup hub, will help manage their operations.
"We look forward to seizing this opportunity, building innovative companies and helping more than anything else, we look forward to creating a new era today," Bhushan said.
Lightspeed will explore deals in sectors such as Commerce, Fintech, Adtech, among others. The new investment will be funded from the billion 4 billion global fund, which was announced in April 2020, Bhushan wrote. Importantly, Lightspeed has already announced a new Lightspeed Opportunity Fund of 1.5 billion, specifically for investing in startups in the early and growth stages in India and Southeast Asia. In addition to Bhushan, Bezul Somaiya will be the partner in the Southeast Asian team and Pin Lojindkul and Marsha Sugana will be the vice-presidents respectively. Lajindakul Grab and Tiger is an veteran of global management and Sugana has been stating at El Caterton and Goldman Sachs in the past. Since its inception in 2000, with over 800 investments and supporting over 400 companies, Lightspeed's portfolio in India includes B2B e-commerce marketplace Gardens, HR Tech startup Darwinbox, Jetwork, Thoughtspot, Fampe, Magicpin, Frame. Lightspeed currently manages সম্প 10.5 billion in assets managed with investment professionals and advisors from Silicon Valley, Israel, India, China, Southeast Asia and Europe. Last month, the VC closed the third India-centric fund for 2.5 million.
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