India · Anthropic · Databricks · TechCrunch AI
Lightspeed targets $250 million for new India fund, focusing on early-stage AI
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Lightspeed is sharpening its India strategy around AI, targeting $250 million for a new early-stage fund as the venture firm bets the technology will drive the next wave of startups in one of the world’s largest markets.
Key facts
- The new fund, Lightspeed India Partners V, will be half the size of its $500 million predecessor, raised in 2022, and has already secured commitments for 80% of its $250 million target, according
- The move follows a similar shift by rival firm Accel, which in August raised its latest $550 million India fund alongside new U.S. and Europe funds and a global growth vehicle as part
- The firm, which manages more than $65 billion in assets globally, raised $9 billion across several new funds last December, the largest fundraising haul in its history
- The $250 million fund is sized to match how quickly Lightspeed is currently investing and its shorter investment period, according to the letter
Summary
The Silicon Valley venture firm is already a major investor in AI companies including Anthropic, xAI, and Databricks. The new fund, Lightspeed India Partners V, will be half the size of its $500 million predecessor, raised in 2022, and has already secured commitments for 80% of its $250 million target, according to a letter sent to investors on Thursday and seen by TechCrunch. In late April, Lightspeed disclosed the new fund in a U.S. regulatory filing, though the filing did not specify its target size. Lightspeed plans to begin investing from the new fund within two months and has designed it around an investment period of roughly two and a half years, per the letter.