Silicon Valley based VC firm Lightspeed Venture Partners which has been investing in India for over nine years from its global fund, has secured $135 million maiden India fund to make 20-25 investments Seed to Series-B stage. The new fund will be advised by Lightspeed India Partners Advisors, managing directors Bejul Somaia and Dev Khare.
In May, the firm reported that it will raise its first India specific fund close to $115 million. It generally invests $1-25 million in growth and early stage startups. Its recent investment include $100 million in Gurgaon-based OYO Rooms with participation from Softbank, Greenoaks Capital, and Sequoia Capital. Lightspeed had also invested in startups like OneAssist, Townrush, LocalOye, FreshMenu and BroEx this year.
Till date, the firm has made 200 investments. Its rivals like Sequoia Capital, Matrix Partners and Accel Partners also set up their India funds from 2005-08, and have now raised successive funds for Indian investments. Lightspeed is now actively looking out for deals in software firms.