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Lightspeed India to launch $500-M fifth fund: report

Mint   Lightspeed India Partners  

Silicon Valley-headquartered Lightspeed India Partners plans to raise its next India and Southeast Asia-focused fund in 2026. The firm had raised USD 500 million to invest in startups across India and Southeast Asia in 2022, its fourth and largest such fund so far. The new fund is expected to be in a similar range. Fundraising will begin in the third or fourth quarter of 2026.So far, Lightspeed has raised four dedicated early-stage funds focused on India and Southeast Asia, with the proposed vehicle expected to be its fifth. The firm has steadily scaled up these funds over the years, raising USD 135 million in Fund I, USD 180 million in Fund II, and USD 275 million in Fund III in 2020. The firm is still deploying capital from its fourth fund, and the new one could take another couple of years to close.Portfolio companies of Lightspeed, including Oyo, Zepto, Zetwerk, Udaan and Acko, are in various stages of preparing to go public, creating a potential liquidity pipeline for the venture capital firm. Lightspeed is also a backer of Physics Wallah but did not sell any stake in its recent IPO.