US based venture capital fund LightSpeed ventures, is now looking to raise $115 million for an India-focused fund. It was revealed through a filing of the company with US Securities and Exchange Commission (via VCCircle).
In March 2014, it raised $950 million in its tenth global fund. The Venture capital firm raised a similar $675 million for its ninth fund two years ago. With its new India-focused fund, it is now looking to step up its activities in India.
Besides operations in Silicon Valley, it also operates in International market, including Israel, India and Chine. Till now, it invested in Indian companies from its global fund.
This new fund comes in at a time when India’s venture capital fund raising is expected to reach a new high in 2015. Other venture investors like SAIF Partners and Accel Partners has already secured their new India-focused funds.
It invests in at seed/pre-Series A round and participates in early stage VC rounds. It has invested in over ten Indian companies, including $5 million in internet-first restaurant FreshMenu and local services marketplaceLocalOye.
It has also invested in social discovery platform LimeRoad, OYO Rooms, ethnic apparel and handicraft marketplace CraftsVilla, consumer protection platform OneAssist, online tuition service firm TutorVista and more.
Other Silicon Valley-headquartered venture capital firms that have set up offices in India to invest in domestic startups includes Sequoia Capital, Accel Partners, Mayfield and Matrix Partners who invest through India-specific firm while while Bessemer Venture Partners and Norwest Venture Partners invest from a global fund.