New Lightspeed China Investment Funds Raise Record USD920 Million
Tang Shihua
DATE:  Nov 30 2021
/ SOURCE:  Yicai
New Lightspeed China Investment Funds Raise Record USD920 Million New Lightspeed China Investment Funds Raise Record USD920 Million

(Yicai Global) Nov. 30 -- Two new investments funds of Lightspeed China Partners have raised a total of USD920 million, the most in the venture capital firm’s history. Both were oversubscribed.

Lightspeed China Partners V, which plans to target early-stage investment opportunities, raised USD460 million, and Lightspeed China Partners Select II, which will mainly target growth stage investments, bagged another USD460 million, the Shanghai-based firm announced today.

“The funds’ oversubscription is evidence of the strong support garnered from returning and new institutional limited partners across the US, Europe, and Asia,” said James Mi, founding partner of Lightspeed China.

“As our society is facing the significant challenges of climate change and inequality, we believe it is important to focus on startup companies with innovative products and services that can bring positive impact to the world,” he said.

The funds will go to develop new sectors including green technology, deep tech, enterprise tech, and health tech, the firm said.

Lightspeed China manages USD3 billion of committed capital across eight US dollar funds and one Chinese yuan fund. Some of its most successful early investments include Chinese food delivery giant Meituan, China’s biggest e-commerce platform by consumers Pinduoduo, and Chinese truck-hailing platform Full Truck Alliance.

Editor: Futura Costaglione

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Keywords:   Financing,Investment Fund,Venture Capital,Enterprise Technologies,Green Tech,Hardcore Tech,Lightspeed China Partners