For Series B onwards, we have a pool of capital available in the Select and Opportunity Fund for companies in India and SE Asia as well, and we can go as high as needed.” Speaking to DealStreetAsia in an interview, Lightspeed partner Rahul Taneja said, “The India and SE Asia fund is an early-stage vehicle where we invest typically from seed to Series A, so anywhere between $1 million and $14 million. Over the past six years, Lightspeed has invested $2.2 billion in early growth companies. While Fund XIV aims to support founders from incubation to seed to Series B, Select V backs companies entering the growth phase. Lightspeed has also closed a series of select and opportunity funds to double down on early and growth-stage investments across the world.Īpart from the India fund, the investor has raised $1.98 billion for Lightspeed’s Fund XIV $2.26 billion for Select Fund V and $2.36 billion for Opportunity Fund II. Southeast Asia- and India-focused VC funds had raised $3.1 billion by May 2022, already nearing the $3.5 billion they raised in all of last year, Nikkei Asia reported, citing data from research company Preqin. In May, Singapore-based Jungle Ventures announced raising $600 million for a new fund targeting investments in Southeast Asia and India. In April, Elevation Capital, which has backed the likes of Paytm and Makemytrip, raised a $670-million India-focused fund. The vehicle, Sequoia SEA Fund I, together with SC India Venture VIII and SC India Growth IV raised an aggregate of $2.85 billion to invest in India and SE Asia. Last month, Sequoia Capital announced its $850-million debut fund dedicated to the SE Asia region last month. Lightspeed’s fundraising announcement comes at a time when several major venture capital investors have recently closed their vehicles targeting investment opportunities in the region. Lightspeed India Partners – the backer of prominent startups such as Oyo, BYJU’s and Udaan – closed its $500-million early-stage LSIP Fund IV. Lio had raised an Angel round from names in the industry including AakritVaish, Anupam Mittal, Ashish Hemrajani, Gaurav Munjal, Haresh Chawla, Kunal Bahl, Kunal Shah, Maninder Gulati, MitenSampat, Prakshit Dar, Rohit Bansal, Roman Saini, Sachin Bhatia, Siddharth Rao in March 2021.Venture capital investor Lightspeed Venture Partners has amassed over $7 billion across four funds including $500 million for its vehicle dedicated to India and SE Asia, according to its announcement on Tuesday. "We are proud to partner with Anupam and Anurag to scale-out Lio globally" As a result, the need for an easy-to-use mobile-centric platform that enables collection, analysis, and sharing of data is more acute than ever," added Dev Khare, partner, Lightspeed. "The global pandemic drove a step-function jump in digital transactions for mobile-first small businesses and prosumers. We are proud to be a first-of-a-kind platform that enables mobile-first users to be a smarter version of themselves leveraging the data templates created by other users in their community, which makes Lio progressively better for every successive user," shared Anurag Vijayvergia, co-founder and chief procurement officer, Lio. "With this investment, we aim to scale up the engineering and product team at Lio. These templates are available in communities that are organized by professional affiliation (such as taxi, shopkeepers, restaurant owners, insurance agents, realty brokers, etc.) and by personal interest groups (such as fitness, travel, apartment, etc). Lio users can organize their information across 60 data templates which are organized by professional and interest-based communities.
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