Lightspeed China Partners closed its second fund with total committed capital of $260m.
Lightspeed China Partners II, L.P., which exceeded the firm’s target of $220m, plans to invest in China-based early-stage businesses with a focus on the Internet, mobile, technology-enabled services, and enterprise solution sectors.
Ron Cao and James Mi, Managing Directors of Lightspeed China Partners, will oversee the fund, which plans to invest in approximately 30 companies with initial investments typically ranging from $500K to $7M in Seed and Series A rounds.
With investment professionals in Shanghai and Beijing, the firm completed its maiden fund, Lightspeed China Partners I, L.P., in 2012 with $168m of committed capital. Investments in its fund include Meilele, an online retailer of self-branded furniture; Rong360, an Internet search site and marketplace for financial services targeting consumers and enterprises; Tujia.com, an online vacation rental service provider; Qingcloud, a cloud infrastructure-as-a-service provider; and PPdai, a peer-to-peer online lending platform.
FinSMEs
23/06/2014