US-based venture capital company Lightspeed Venture Partners has introduced its foray into Southeast Asia. In a LinkedIn post, the company stated it has formally mounted its regional headquarters in Singapore “to partner and assist bold entrepreneurs constructing disruptive corporations”.
This is the 6th international expansion for Lightspeed after India, US, China, Israel, and Europe. After Sequoia, Lightspeed will be the 2d VC company to set up a base in Southeast Asia.
Separately, a LinkedIn post through Akshay Bhushan, a companion at Lightspeed and now a part of the Southeast Asia group, shared more info consisting of how their new base will assist in dealing with their operations in Singapore in addition to Jakarta, identified as global startup hubs.
“We’re looking forward to serving this opportunity, to help build innovative companies and more than anything else, we’re looking forward to partnering with the bold founders of Southeast Asia, looking to create a new tomorrow, today,” Bhushan said in his post.
Lightspeed could discover deals in sectors consisting of trade, fintech, edtech, amongst others. The financing for the brand new investments could be made from $4 billion worth international funds, which had been introduced in April 2020, Bhushan wrote.
Importantly, Lightspeed had already introduced a brand new Lightspeed Opportunity Fund of $1.5 billion to especially put money into early and growth-stage startups in India and Southeast Asia.
Along with Bhushan, the Southeast Asian group could have Bejul Somaia as companion and Pinn Lawjindakul and Marsha Sugana as vice chairman and senior funding partner respectively. Bhushan was a founding member of Flipkart’s company development group before becoming a member of Lightspeed 5 years in the past whilst Somaia has performed a key position in setting up Lightspeed India.
Lawjindakul is a veteran of Grab and Tiger Global Management whilst Sugana’s beyond tenures encompass stints at L Catterton and Goldman Sachs.
Having made greater than 800 investments and supporting over four hundred agencies since its inception in 2000, Lightspeed’s portfolio agencies in India encompass B2B e-commerce market Udaan, HR tech startup Darwinbox, Zetwerk, ThoughtSpot, FamPay, Magicpin, Freight Tiger, amongst others.
Lightspeed presently controls $10.5 billion property under management with funding specialists and advisors in Silicon Valley, Israel, India, China, Southeast Asia and Europe. Last month, the VC company had closed its third India-targeted fund at $275 million.
