Lightspeed India raises $275 mn

BENGALURU : Venture capital firm Lightspeed India Partners Advisors LLP has raised a $275-million fund, its third, as it continues to focus on early- and growth-stage opportunities in startups across the consumer Internet and software space. Lightspeed India Partners III is considerably larger than the $175-million second fund which closed in December 2018. US-based Lightspeed, which is operating in India for 13 years, launched its first dedicated fund for India in 2015. With its new fund, Lightspeed will focus on emerging segments, such as health and wellness, direct-to-customer brands and fintech, besides other consumer internet segments, Harsha Kumar, partner, Lightspeed, said in an interview. Kumar said Lightspeed will continue to scout for new startups, even as valuations saw “Slight” corrections in certain segments that have been impacted by the pandemic. Lightspeed and its affiliates currently manage more than $10 billion across the global Lightspeed platform, with investment professionals and advisors spread across India, the Silicon Valley, Israel, China, Southeast Asia and Europe.