Bangalore, Karnataka, India
Lightspeed Venture Partners, a leading global venture capital firm, announced today the closing of Lightspeed Venture Partners VIII, L.P. capitalized with $800 million of limited partner commitments, above the firm's target of $675 million. This closing brings Lightspeed's base of committed capital to over $2 billion.
"We are pleased by the strong response from our limited partners," said Barry Eggers, managing director. "The new fund will leverage our investment platform to support the creation of industry-leading companies in India, China, Israel and the US."
Lightspeed has a global investment platform. In India and China, Lightspeed is pursuing a balanced investment program encompassing early-stage technology companies as well as growth-stage companies in a range of product and service businesses. In India specifically, Lightspeed's investment interest is in technology-led opportunities, as well as in non-technology businesses stemming from the strong growth in domestic consumption and infrastructure investment. In the U.S. and Israel, Lightspeed will continue to focus on seed and early-stage companies primarily in information technology and cleantech markets.
"Lightspeed investment professionals have been investing internationally for over 10 years, and we expect to deploy substantial capital in India given the large number of high quality start-ups and growth companies here," observed Srini Vudayagiri, a managing director at Lightspeed.
The firm has an active seed program and a strong track record of working with both repeat entrepreneurs and first time CEOs to create successful companies in a variety of industry sectors.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a leading global venture capital firm with over $2 billion of committed capital under management. Lightspeed's investment professionals and advisors are located in Silicon Valley, China, India and Israel. Over the past two decades, the Lightspeed team has backed more than 150 companies, many of which have become leaders in their respective markets, including Blue Nile, Brocade, Calista, Ciena, DoubleClick, eHealth Insurance, Galileo Technology, Growth Networks, Informatica, Kiva Software, LightLogic, Maker Communications, Metasolv, Phone.com, Quantum Effect Devices, Riverbed, Sirocco, Virsa Systems and Waveset. For more information, visit the Lightspeed website: www.lightspeedvp.com.
Source: Business Wire (Business Wire India)
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