Lightspeed targets $250 million for early‑stage AI fund in India
TechCrunch reported the firm has commitments for 80% of the target, and that the new fund is half the size of its 2022 India vehicle.
Lightspeed is raising $250 million for an early-stage fund aimed at AI companies in India and Southeast Asia, TechCrunch reported early on Friday, citing an investor letter. No other outlet has reported the letter, and Lightspeed declined to comment.
The firm has secured about 80% of the target and plans to start investing within two months, over a period of roughly two and a half years, according to the report. The fund is half the size of the $500 million India fund Lightspeed raised in 2022. Lightspeed has not announced it.
TechCrunch said the fund carries a narrower brief than Lightspeed's earlier India portfolios, which spread across consumer and software companies. It said the firm is aligning its India fundraising with its global funds for the first time, and that the investment period is shorter than before.
Lightspeed manages more than $65 billion globally, according to the report. Its India investments include Sarvam AI, the model developer the Indian government picked for its sovereign AI work, along with Zepto, Pocket FM and SolarSquare.