Bloomberg reported that Lightspeed Ventures, an international VC firm is said to be finishing raising a new fund worth $875 million. $200 million is said to be ear marked for China based companies.
This reflects a growing trend for U.S. VCโs to get a taste of the burgeoning Chinese market where start-ups can take advantage of the enormous opportunities to scale. In September last year, Chinaโs most prominent start-up incubator, Innovation Works closed a US$180 million fund. The fund was backed by famous investors like Ron Conway of SV Angel and Yuri Milner of DST Global.
Some of Lightspeedโs most prominent investments in China include 99Bill, an electronic payments company; Dianping, like Yelp; ihaveu, a luxury e-commerce store. They have also invested in LivingSocial in America, the biggest Groupon competitor.
So if you are a start-up looking for funds, you can get ready to pitch Lightspeed in China.
