The U.S. venture capital firm focusing on early-stage investments in the enterprise technology and consumer space will deploy capital from its global funds into disruptive companies in Southeast Asia.
Lightspeed Venture Partners, known for its investments in Grab, Chilibeli, Ula, Shipper and NextBillion, is looking to accelerate further with the launch of Southeast Asian operations, and is eyeing early-stage investments in sectors like commerce, fintech, edtech and SaaS, among others.
The firm will steer its regional activities from its new Southeast Asia headquarters in Singapore, where it has put together a team with strong regional investing and operating experience, it said in a statement on Thursday
Lightspeed has raised over $4 billion across three funds in 2020: $890 million for its latest early-stage venture fund, a $1.83 billion growth fund for later-stage investments, and a $1.5 billion opportunity fund for doubling down on winners in its international portfolio, the firm previously announced.
Growing Innovation Ecosystem
To start, the firm is focusing on Singapore, where many of its portfolio companies, such as including Snap, OYO Rooms, Yellow Messenger and Darwinbox, also lead their regional operations, and Indonesia, which has deepening mobile penetration and an emergent middle class.
«We believe the startup ecosystem will continue its significant expansion and are excited to partner with entrepreneurs as they build and scale disruptive companies,» Akshay Bhushan, partner, Lightspeed Venture Partners, said in the statement.
«With a large, tech-savvy and young population, Southeast Asia is leading the charge in technology-driven innovation. We have a strong belief in the opportunities here and the capabilities that founders of this region have demonstrated,» Behjul Somaia, partner, Lightspeed Venture Partners, added.
Experienced Team
Its team in Singapore includes Bhushan, who has led venture investments with Lightspeed for the past five years. He was previously a founding member of Flipkart’s corporate development team, leading the startup's strategic investments and acquisitions, and was a consultant at Bain & Company, where he founded the company’s Atlanta Private Equity Practice.
Somaia, who joined Lightspeed in 2008, is a venture capital veteran who has been in the industry since 1999 and helped build companies such as OYO Rooms and Udaan in India.
Vice president Pinn Lawjindakul has worked alongside founders across life stages in China and India. She previously worked with Grab and Tiger Global Management in Singapore, and advised previate equity clients during her time at Bain & Company. Senor investment associate Marsha Sugana has served in private equity roles with L Catterton and Goldman Sachs, and was an analyst at BlackRock's financial markets advisory division in New York.
