Lightspeed China Partners announced Thursday (Jan. 3) that it completed fundraising for its fund family IV, raising $560 million.
In a press release, Lightspeed China Partners said that $360 million is going toward the Lightspeed China Partners IV and $200 million for the Lightspeed China Partners Select I fund. The company said it is the largest fund family raised by Lightspeed China Partners to date and brings the capital under management to $1.5 billion.
Lightspeed China Partners IV plans to make investments in early-stage technology companies located in China, while the Lightspeed China Partners Select I fund will make growth investments in China. The company noted in the press release that in the last year and a half, five of the companies in which it invested in early stages have had successful initial public offerings including InnoLight, Meituan Dianping, Pinduoduo , PPDai and Rong360. The firm also said it has nurtured a number of industry leaders across different sectors, including Black Fish, Fan Deng Reading Club, Fangdd, Full Truck Alliance, Hesai, Ifchange, QingCloud, Sunmi, Sweetome, Tencent Trusted Doctors, Tujia, Xiao Peng Auto and XY Link.
Lightspeed China Partners noted in the press release that given the size of the consumer markets in China and the tech talent residing in the country, China internet and marketplace companies are becoming world leaders. “We believe there are plenty of new opportunities in China consumer Internet given the depth of China’s mobile payment and social networks. Innovation and entrepreneurship in the next decade will bring more China-based startups to the world stage,” Harry Han, founding partner of Lightspeed China Partners, said in the press release. “This will be China’s first decade of truly global innovation. Chinese entrepreneurs are now developing business plans with global expansion in mind from day one. We look forward to meeting entrepreneurs with ambitious visions and supporting them in realizing their dreams.”