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Wednesday, November 25, 2020

VC Lightspeed Ventures expanding into Southeast Asia

  • Lightspeed officially announced the establishment of office at its regional headquarter in Singapore.
  • Lightspeed could be the second major league VC after Sequoia for setting up an office in Southeast Asia.
  • Lightspeed Ventures’ announcement is sixth global expansion after U.S., Europe, China, India and Israel.

Silicon Valley-based venture capital firm Lightspeed Venture Partners announced that the firm would be expanding its operations by entering into Southeast Asia. Lightspeed officially announced the establishment of office at its regional headquarter in Singapore.  

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In April 2020, Lightspeed Venture announced the closing of $4.2 billion fresh fundraisings across three funds. The funds were –

  • $890 million for early-stage venture funds – Lightspeed Venture Partners XIII, L.P. 
  • $1.83 billion growth fund for later-stage investments – Lightspeed Venture Partners Select IV, L.P. 
  • $1.5 billion opportunity fund for doubling down on winners in Lightspeeds’ international portfolio – Lightspeed Opportunity Fund, L.P.

Lightspeed Venture is expected to be using some portion of these funds in the Southeast Asian market. 

“Southeast Asia is one of the world’s fastest-growing economies and startup ecosystems, and this is due in no small part to the region’s extraordinary entrepreneurial talent. We believe the startup ecosystem will continue its significant expansion and are excited to partner with entrepreneurs as they build and scale disruptive companies,” said Akshay Bhushan, Partner at Lightspeed Venture Partners.

Investment in Southeast Asia so far


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Source : Lightspeed Venture Website ( Filtered by Geographical Location)
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The venture capital firm has several existing investments in the region. The list consists of – Chilibeli, a social commerce platform; Grab, a regional super-app; NS8 (Nextbillion dot ai), a mapping and AI-based service provider; Shipper, a fulfilment and shipping company; Ula, a marketplace app.

Another big player – Sequoia

Lightspeed could be the second major league venture capital fund after Sequoia for setting up an office in Southeast Asia. 

In July 2020, Sequoia Capital India announced that it had raised $1.35 billion from limited partners for investment in India and Southeast Asia. The two new funds were – a $825 million growth fund and a $525 million venture fund. 

Lightspeed Ventures’ current announcement is considered to be the sixth global expansion for Lightspeed Ventures after U.S., Europe, China, India and Israel.



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