Lightspeed Targets $250M for New AI-Focused India Early-Stage Fund
aiinsider ·
Lightspeed is raising $250 million for Lightspeed India Partners V, a new early-stage fund dedicated exclusively to AI companies in India and Southeast Asia. According to an investor letter, the fund has already secured commitments for 80% of its target amount. This new vehicle is half the size of its predecessor, which raised $500 million in 2022. The investment thesis posits that AI will create more value in India than the internet did previously. Although India lacks major frontier model developers compared to the U.S. and China, investors see opportunity at the application layer due to the country's deep pool of software developers. Lightspeed, which has backed firms like Anthropic and Sarvam AI, plans to begin investing within two months. The smaller fund size aligns with a shorter two-and-a-half-year period, allowing the team to focus on individual deals and raise capital again sooner.
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