Lightspeed targets $250M for new India fund, focusing on early-stage AI
techcrunch ·
Lightspeed Venture Partners is launching a new $250 million early-stage fund for India, specifically targeting artificial intelligence startups. This new vehicle, Lightspeed India Partners V, is half the size of its predecessor and reflects a strategic shift to align regional fundraising cycles with global operations. The firm aims to begin investing within two months, focusing on AI companies across India and Southeast Asia. While India has not yet produced major frontier AI models, investors see significant potential in the application layer due to the country's large software developer pool. Lightspeed’s existing portfolio includes notable Indian firms like Sarvam AI, Zepto, and Pocket FM. The decision to dedicate this fund entirely to AI marks a sharper thematic focus compared to the firm's historically diversified investments in sectors like quick commerce and consumer internet. This move follows similar coordinated fundraising efforts by rival firm Accel. Despite being smaller than Lightspeed’s global funds, the new investment highlights the firm's confidence in AI driving the next wave of startups in the region.
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