Lightspeed Venture Partners forays into Southeast Asian markets1 min read . Updated: 17 Sep 2020, 06:49 PM IST
Silicon Valley-based venture capital firm Lightspeed Venture Partners on Thursday said that it will expand its focus and launch its operations in the Southeast Asian market
Bengaluru: Silicon Valley-based venture capital firm Lightspeed Venture Partners on Thursday said that it will expand its focus and launch its operations in the Southeast Asian market.
Choosing Singapore as its regional headquarter for the market, this news comes just months after the venture capital firm announced raising over $4 billion across four different global funds to support early and growth stage startups.
Lightspeed said that it is deploying capital in the Southeast Asian market, from these global funds.
In India, Lightspeed has backed several category-leading unicorns, including edtech major, BYJU’s, B2B trade commerce platform, Udaan; hospitality unicorn OYO Rooms, as well as soon-to be unicorn Sharechat.
“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, Lightspeed Venture Partners.
Globally, more than 70% of the venture firm’s investments have been in firms at early stages, often being the first institutional capital partner. In Southeast Asia as well, Lightspeed is actively engaging with ventures in sectors like commerce, fintech, edtech and SaaS amongst others.
Lightspeed has already invested in the region across Singapore-based super-app Grab, social commerce platform Chilibeli; B2B marketplace app Ula, enterprise artificial intelligence software provider NextBillion.ai as well as fulfilment and shipping gateway company Shipper.
Additionally, many of Lightspeed portfolio companies are scaling up business in Southeast Asia and have regional headquarters in Singapore – including Snap (earlier Snapchat), OYO Rooms, Yellow Messenger and Darwinbox among others.
“With a large, tech-savvy and young population, Southeast Asia is leading the charge in technology-driven innovation. We have a strong belief in the opportunities here and the capabilities that founders of this region have demonstrated," said Bejul Somaia, Partner, Lightspeed Venture Partners.
Globally, Lightspeed manages over $10 billion of committed capital and invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, Israel, India, Southeast Asia and China.
Recently, in July, even venture-capital firm Sequoia India announced two new India- and South-East Asia (SEA)-focussed funds—a $525-million venture fund, and a $825-million growth fund.
The blue-chip firm had then said that it plans to invest in startups across India and Southeast Asia, where it has made over 200 investments, till date.