Lightspeed China Partners (LCP) announced the completion of the final closing of fund with total committed capital of $560 million, which includes Lightspeed China Partners IV at $360 million and Lightspeed China Partners Select I at $200 million. This is the one of the largest fund family raised by LCP to date and brings committed capital under management to $1.5 billion. LCP IV will make investments in early stage technology companies in China whereas LCP Select I will focus on growth investments in China.
ABOUT LIGHTSPEED CHINA PARTNERS
Lightspeed China Partners (LCP) is a leading venture capital firm focusing on early-stage investments in mobile, internet, technology-providing services in China. The partners of LCP are devoted to helping a new generation of Chinese entrepreneurs become industry leaders, build world-class companies and create social impact. Moreover, LCP offers international value-added capabilities through its relationship with Lightspeed Venture Partners (LSVP).
LSVP is a global venture capital firm. Over the past two decades, the partners of LCP and LSVP have supported more than 300 companies globally, out of which many have become leaders in their respective markets.
FOURTH CHINA FUND CLOSES ON $500 MILLION
The International investor Lightspeed is beginning 2019 with its largest-ever fund for China. Which has backed quite a few new web challengers. The firm published this week that its fourth China fund has closed with a complete capital dedication of $560 million. The agency had a tremendous 2018. With no fewer than 5 of its portfolios holding IPOs which includes two of China’s up-and-coming start-ups which might challenge the nation’s web institution — they’re Meituan, the splendid app agency that makes a specializes in deliveries, and Pinduoduo, a group e-commerce firm that’s threatening Alibaba’s dominance.
Its probably because of these successes. That it’s maybe not a shock that Lightspeed has pulled in a record new fund. TechCrunch previously reported that the new fund was aimed toward $360 million based mostly on filings. Nevertheless it added extra capital to provide extra choices.
Lightspeed mentioned it has $360 million for early-stage offers aimed at serial A and serial B levels. With supplementary $200 million put aside for “progress investments”. The new fund dwarfs Lightspeed’s previous automobiles in China. The firm’s earlier two China funds each closed at $260 million. Whereas it raised $168 million for its debut fund within the nation in 2013.
ADVANCED BACKERS OF ARISING CONCEPTS
LSVP- reputed investor anchored in Silicon Valley with international funds in India, Israeli and China. Collectively, these funds handle round $6 billion in capital, in line with the agency.
The China operation has backed a variety of unicorns. Together with the aforementioned Meituan, which raised over $4 billion via a Hong Kong IPO last year. And Pinduoduo, which raised $1.6 billion via U.S. listing in 2018. Led by companions Chris Schaepe, Herry Han and James Mi.
Apart from the above mentioned, other Lightspeed China IPOs from last year were PPDai, Rong360 and InnoLight whereas the agency additionally counts $9 billion-valued Full Truck Alliance, real estate platform Fangdd and Airbnb-like Tujia, each of that are valued within the billions, among the many more mature bets in its portfolio.
Han, one of the firm’s founding partners stated that –
“We believe there are plenty of new opportunities in China consumer Internet. Given the depth of China’s mobile payment and social networks. Innovation and entrepreneurship in the next decade will bring more China-based start-ups to the world stage. This will be China’s first decade of truly global innovation. Chinese entrepreneurs are now developing business plans with global expansion in mind from day one.”
Previous year, LSVP — the U.S. entity — filed to raise a record $1.8 billion in new capital commitments. In December, it added five new partners to its consumer and enterprise funding groups. Together with Slack’s former head of progress and Twitter’s former vice president of worldwide enterprise improvement.