Venture capital firm Lightspeed China Partners closed two funds with total committed capital of $560m.
– Lightspeed China Partners IV, which closed at $360m to make investments in early stage technology companies in China, and
– Lightspeed China Partners Select I, which closed at $200m to focus on growth investments in China.
This raise brings committed capital under management to $1.5 billion.
Led by Founding Partners Herry Han and James Mi, Lightspeed China Partners is a venture capital firm focused on Series A and Series B investments in consumer Internet, Internet+ and enterprise/deep tech in China. Its enterprise and deep tech investments span autonomous vehicles, AI, IoT, SaaS, enterprise marketplaces, semiconductors, and optical communications.
Over the past 10 years, the Lightspeed China team has backed Meituan Dianping, Full Truck Alliance, Tujia and Fangdd, among others. In the past 18 months, five portfolio companies have completed IPOs, including:
- InnoLight (SZ:300308),
- Meituan Dianping (HK:3690),
- Pinduoduo (NASDAQ:PDD),
- PPDai (NYSE:PPDF), and
- Rong360 (NYSE:JT).
In addition to the publicly traded companies, LCP has backed many innovative industry leaders across multiple 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.
LCP also offers international capabilities through its relationship with Lightspeed Venture Partners, a global venture capital firm managing over $6 billion of committed capital.