Lightspeed China Partners Seeks $560M for Two New VC Funds
Lightspeed China Partners files SEC paperwork to raise $560 million for two new venture capital funds.
Lightspeed China Partners seeks to raise $560 million across two new venture capital funds, according to recent SEC filings. The Shanghai-based firm targets $360 million for its fourth flagship fund, which marks its largest fund to date. An additional $200 million goes toward a new "Select" fund dedicated specifically to follow-on investments in top-performing portfolio companies.
The firm actively deploys its existing capital into the Chinese market with notable recent deals. Lightspeed China leads a $50 million extension round for fintech company Black Fish, contributing to a total $145 million Series A. The firm also participates in eBroker's $100 million Series C funding round, demonstrating a strong focus on financial technology and online services.
Lightspeed China boasts a successful track record of high-profile exits since launching its inaugural fund in 2013. Notable achievements include the initial public offerings of e-commerce giant Pinduoduo and peer lender PPDai, alongside the $300 million acquisition of FaceU by Toutiao. This new fundraising effort follows the parent firm, Lightspeed Venture Partners, closing $1.8 billion across two funds in July.