Lightspeed raises $500 m for startups in India & Southeast Asia

Lightspeed has raised $500 million for its India and Southeast Asia play, as part of its larger $7-billion fundraise, the company announced on Tuesday.

This was Lightspeed India’s fourth fund and is dedicated to early-stage startups. Alongside that, Lightspeed invests in growth-stage companies in the India and Southeast Asia region from its select and opportunity fund vehicles.

Lightspeed backs companies like Indian Energy Exchange, OYO, Byju’s, Grab, Acko, Razorpay, Udaan, Sharechat and Innovaccer.

The closing of this fund “reflects the firm’s deepening commitment to the India and Southeast Asia region, since our first India investment in 2007,” the company said in a release.

Lightspeed began investing in India about 10 years ago and with the latest raise, its total capital under management crosses over $18 billion. The company also announced Lightspeed Faction, an independent team dedicated to building on Lightspeed’s nine-year history of backing exceptional founders in blockchain infrastructure.

“We pride ourselves on being the first institutional capital behind our founders and having the patience, persistence and capital to help build companies from one employee to thousands, from day one to IPO,” said Nicole Quinn, partner, Lightspeed. “We have our finger on the cultural pulse and go where the entrepreneur is – we meet the founders and innovators where they are making their mark.”