Lightspeed Venture Partners is prepared to extend its operations in Southeast Asia, after opening new quarters in Singapore. The investment firm looks to grow its portfolio and support emerging startups in the region.
It will use funds out of its $4 billion it raised this year, to invest in Southeast Asian startups. Akshay Bhushan, Partner at Lightspeed Venture Partners says the company will invest in areas of consumer internet, financial technology and enterprise software, and will mainly focus on seed, Series A and B funding, i.e. approximately $500,000 to $20 million.
A team has already been established at its new office in Singapore that comprises of Akshay Bhushan – Partner, Bejul Somaia – Partner who played a major role in OYO rooms investments, Pinn Lawjindakul – vice president and Marsha Sugana – senior investment associate. Lightspeed has already supported various startups in the region across sectors like commerce, fintech, edtech, SaaS and many others.
Akshay Bhushan, Partner at Lightspeed Venture Partners said, “Southeast Asia is one of the world’s fastest-growing economies and startup ecosystems, and this is due in no small part to the region’s extraordinary entrepreneurial talent. We believe the startup ecosystem will continue its significant expansion and are excited to partner with entrepreneurs as they build and scale disruptive companies”. He added that the company will keep an eye out for emerging startups predominantly in Singapore and Indonesia.
Bejul Somaia, Partner, Lightspeed Venture Partners said, ” 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”.
Lightspeed Venture Partners was founded in 2000, headquartered in Menlo Park, California, United States. The firm’s focus is on supporting early-stage startups, with more than 70% of its investments in companies in the early stages. Its portfolio includes some of the well-established startups such as Singaporean ride-hailing company Grab Holdings Inc., Indian hospitality chain service OYO Rooms and GrubHub. The firm is spread across the US, China, India, Israel, Europe and now Southeast Asia.