Lightspeed India Partners on August 17, 2020 announced it has closed US$275 million for its Lightspeed India Partners III from firm’s Limited Partnerships (LPs). This will third the firm’s investment fund for early, seed, and Series A investments.
This will be the Silicon Valley-based company’s third India-focused fund. Lightspeed raised its first India-focused fund of $135 million in 2015, and then a second fund of $175 million in 2018. The new capital will be disbursed in the last quarter of 2020, according to an Economic Times of India’s report.
“Lightspeed believes this is when the best entrepreneurs and companies of the future will emerge. Strong founders are utilizing the tailwinds of India’s digital ecosystem growth to build out a new future and Lightspeed is strongly committed to backing these founders,” the firm said in a statement.