Lightspeed Ventures raises $7 bln

It will be in addition to his existing roles advising on investments in India, Southeast Asia and Europe.The closing of Lightspeed India IV at its USD 500 million hard-cap reflects the firms deepening commitment to the India and South East Asia region, since our first India investment in 2007.Alongside India IV, which is a dedicated early-stage fund vehicle, Lightspeed invests in growth-stage companies in the India and South East Asia region from its Select and Opportunity fund vehicles, the statement said.Lightspeed has invested in several startups that have now turned unicorns.

Investment firm Lightspeed Ventures has raised over USD 7 billion (about Rs 55,660 crore) and USD 500 million will be utilised for investments in India and South East Asia region.

It has completed the investment round raising USD 7 billion, according to a statement on Tuesday.

Lightspeed also announced the elevation of Lightspeed India Partner Bejul Somaia to the leadership team where he will contribute to the firm's strategy and global operations. It will be in addition to his existing roles advising on investments in India, Southeast Asia and Europe.

''The closing of Lightspeed India IV at its USD 500 million hard-cap reflects the firm's deepening commitment to the India and South East Asia region, since our first India investment in 2007.

''Alongside India IV, which is a dedicated early-stage fund vehicle, Lightspeed invests in growth-stage companies in the India and South East Asia region from its Select and Opportunity fund vehicles,'' the statement said.

Lightspeed has invested in several startups that have now turned unicorns. Its portfolio companies include Oyo, Byju’s, Grab, Acko, Razorpay, Udaan and Sharechat.