Jan 04, 2019 (China Knowledge) - Global venture capital firm Lightspeed Venture Partners has just closed its fourth China fund at USD 560 million, making it the largest investment vehicle the company has raised for the country.
Prior to this, Lightspeed had raised two USD 260 million funds and a USD 168 million fund.
The latest fund involves two funds, the USD 360 million Lightspeed China Partners IV which focuses on investing in early-stage startups and the USD 200 million Lightspeed China Partners Select I which will be making growth investments.
Lightspeed China has had notable success in recent times with 5 of its portfolio companies completing their IPOs. These companies include InnoLight, Meituan-Dianping, Pinduoduo, PPDai and Rong360.
Other companies it has invested in have also emerged as industry leaders with some notable names such as Full Truck Alliance, Tencent Trusted Doctors, Tujia and XPeng Motors.
The conglomerate typically makes investments into innovative companies that use their technology to come up with new disruptive business models in traditional industries.
Given China’s strong mobile payments and social network infrastructure, the country has the infrastructure to allow Chinese start-ups to make an impact on the global stage.
According to founding partner of Lightspeed Henry Han, Chinese entrepreneurs are now developing business plans with global expansion in mind and Lightspeed hopes to be able to capture the opportunities these entrepreneurs present.
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