Lighstpeed Venture Partners, an American venture capital firm focusing on early stage investments in the enterprise technology and consumer space, is raising a total of $560 million for VC funds focused on China.
In its pair of filings with the US Securities and Exchange Commission, Lightspeed Venture said it is raising $360 million for a fourth Chinese venture capital fund and $200 million for a Chinese select fund.
The two funds – Lightspeed China Partners IV and Lightspeed China Partners Select I GP – add to Lightspeed’s 15 funds that have raised a combined $7.6 billion, according to Crunchbase data.
For this year, the firm raised $3.8 billion for its four funds – Lightspeed Venture Partners Select III, Lightspeed India Partners II, Lightspeed Venture Partners XII, and Lightspeed Venture Partners Select III.
Founded in 2000, Lightspeed Venture Partners invests in various sectors: enterprise, consumer, big data, bitcoin, enterprise technology, cleantech, mobile, internet, financial technology, cloud solutions, e-commerce, storage, media, networking, energy, and software, software-as-a-service, information technology, biotechnology, and social.
It mainly invests in countries such as the United States, Europe, Israel, China, and India.
Since its inception, the firm has made 678 investments, with 203 of them as lead investor. Its most recent investment was on December 14, 2018, when it invested $60 million Faire, a startup that helps retailers fund and buy wholesale merchandise for their stores.
Lightspeed-backed companies have held 17 initial public offerings in the last five years, about half of which have occurred since the start of 2017, including messaging app Snap, personal stylist company Stitch Fix Inc, and data storage provider Nutanix Inc.
It also reaped windfalls when Cisco Systems Inc acquired AppDynamics Inc and when Salesforce.com Inc bought MuleSoft for multiple billions of dollars.
According to a Reuters report, Lightspeed is eyeing a business expansion to Southeast Asia and wants to add investments in cryptocurrency, biotechnology, new TV streaming services and even cosmetics companies. – AsiaPEVC.com