Lightspeed Venture Partners, a US based venture capital firm and an early investor in Snap Inc., has raised $1.8 billion to capitalize in startups. The US firm is planning to devote their investments in a range of industries like cryptocurrency, biotechnology, TV streaming services and cosmetics; and is keeping an eye on the geographic expansion of its businesses to Southeast Asia.
The venture capital firm that focuses on early stage investments in the enterprise technology and consumer space, announced on its website: “…we closed on $1.8B of committed capital for our new family of funds, Fund XII and Select III.”
The company is continuing with its mission to invest in founders and innovators building enduring companies. “Our mission remains the same: to invest in founders and innovators building enduring companies. Lightspeed is an early stage firm at its core. We are often the first check in to a startup and continue to fund them as they grow. It’s something we’ve taken pride in over the years — being there for the entire lifecycle of a company.”
Where will the investment exactly go?
On Monday, the company’s partners confirmed to Reuters that around $1.05 billion of the newly raised fund has been allotted to be invested in more “mature companies”. The dollar amount is more than double the size of its previous growth-stage fund.
Even in its blog, Lightspeed mentioned: “As a result, a large part of the new capital ($1.05B to be exact) will be invested in follow-on rounds in existing Lightspeed portfolio companies as they enter the growth phase, as well as in some companies new to the portfolio that have demonstrated compelling product-market fit, strong executive teams and scalability.”
“That trend has only been increasing over time, and as a result our funds have been getting bigger over time as well,” said Jeremy Liew, a Lightspeed partner. He posted the investment news on Twitter, saying:
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