US-based VC Firm Lightspeed Raises $175 Million For Its Second India Fund

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One of Silicon Valley’s top Venture Capitalist firm “Lightspeed” has raised $175 million (around INR 1200 crores) as a part of its second India fund. Just like its previous investments, Lightspeed is looking forward to investing in early-stage technology startups in India.

With its latest fundraising exercise, the VC Firm brings assets worth $310 million under its management in India. The firm is looking to invest in sectors like b2b, logistics, fintech, media and content, and e-commerce.

Lightspeed has recently led a $50 million follow-on round of funding for Bengaluru-based b2b e-commerce player Udaan, earlier in February this year.

Its other investments in India based startups include budget hotel aggregator ‘OYO’, online learning portal ‘Byju’s’ to name a few.

Speaking to ET on the closure of its second India fund, Dev Khare, a partner at Lightspeed India Patterns Advisors said, “Our strategy remains the same – seed and Series-A deal. The reason for this is new spaces have opened up and there is an opportunity to continue to go in early and help startups build their management teams and guide them through the strategy that will fit the India market, as opposed to the ones borrowed from the US or China markets”.

Lightspeed has made several investments in early-stage startups globally, one of it’s notable investment include the Snap’s messaging app – Snapchat where it invested approximately $8.1 million (starting 2012). Its stake later turned out to value at approximately $2 billion during Snap’s IPO last year.

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