California headquartered venture capital firm Lightspeed Venture Partners has announced a $560 million a fresh fund, only aimed for the Chinese companies. This is the largest investment for the Chinese firms among the four funds which the company has allotted.
Notably, the portfolio companies of Lightspeed Venture Partners have done exceptionally well as 5 of their portfolio firms made it big, eventually going public with two of them coming from the Chinese territory. Pinduoduo an ecommerce company which roaring with significant power to threaten giant like Alibaba is one of the major investment of Lightspeed in the region. Meituan is the other investment of Lightspeed which has seen a fruitful year.
The fourth fund as per the company has been divided into two parts. A $360 million investment has been kept aside for early-stage startups where the firm will infuse in Series A and Series B rounds. While the remaining $200 will be aimed for “growth investments.”
Harry Han, one of the founder partners of the company through a press release said, “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 startups 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. We look forward to meeting entrepreneurs with ambitious visions and supporting them in realizing their dreams,” he added.
As the investment continues to flourish from the firm, it will be interesting to see how the Chinese startups and entrepreneurs manage to attract the investment from Lightspeed Venture Partners.
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