Lightspeed targets $250 million for new India AI fund
🎧 Listen to this story
Lightspeed plans to raise $250 million for its new India fund, Lightspeed India Partners V, focused on early-stage AI companies in India and Southeast Asia. According to a letter sent to investors and seen by TechCrunch, 80% of the target has already been committed. The firm plans to begin investing from the fund within two months and expects an investment period of roughly two and a half years.
The fund will be half the size of its previous vehicle, a $500 million fund raised in 2022. Lightspeed says the smaller size matches its current investment pace and allows it to focus on individual deals while raising its next fund sooner. The new strategy also aligns the fundraising cycle for its India funds with its global funds for the first time. The thesis outlined in the letter says AI could create more value in India than the internet did, while Lightspeed has already invested in the region in companies including Sarvam AI.
Why it matters · editorial interpretation
The planned raise, with 80% already committed according to the letter seen by TechCrunch, signals a more focused Lightspeed strategy for financing early-stage AI companies in India and Southeast Asia. The fund also aligns the fundraising cycle for its India vehicles with the firm’s global funds for the first time.
Sources
Business