Lightspeed China Partners Raises $920 Million with Focus on Green Tech, Deep Tech and Enterprise Technologies
Lightspeed China Partners (LCP) announced today the closing of
Lightspeed China Partners V with $460M and Lightspeed China
Partners Select II with $460M, marking the largest fundraising
rounds in LCP history. The new funds, covering both early stage
investments from Fund V and emerging growth stage investments from
Select II in China, will focus on sectors including green tech,
deep tech, enterprise tech, health tech and consumer.
“The funds’ oversubscription is evidence of the strong support
garnered from returning and new institutional limited partners
across the U.S., Europe and Asia. As our society is facing the
significant challenges of climate change and inequality, we believe
it is important to focus on startup companies with innovative
products and services that can bring positive impact to the world,”
stated James Mi, founding partner of Lightspeed China Partners.
Green technology investment will continue to be a global
opportunity well beyond the next decade and will remain one of the
key investment areas for the new funds. Lightspeed China Partners
has been a long-time investor in green tech and has backed industry
leading companies such as EV commercial truck company Newrizon,
synthetic biology and biomaterial company Bluepha, and China’s
leading plant-based meat company Starfield.
In addition to green tech, Lightspeed China Partners has also
built a reputation as an early pioneer in the mobile internet, deep
tech, and enterprise services since its founding in 2011. Key
investments have included China’s leading internet platform
companies Meituan (HK:3690) and Pinduoduo (NASDAQ:PDD), China’s
leading online commercial freight platform Full Truck Alliance
(NYSE:YMM), the world’s leading supplier of high-speed optical
transceivers Zhongji InnoLight (SZ:300308), and the
enterprise-class cloud computing services company QingCloud
The partners of LCP have deep venture capital experience and
diverse industry operating experience. Along with the announcement
of the new funds, the partnership welcomes two new partners: Wei
Cai who was responsible for Alibaba Group’s investment in deep
tech, and Daniel Sun who jointly led investments in the consumer
and TMT sectors at China Renaissance New Economy Fund.
Recently, three associate partners – Jia Zhu, Francis Kao and
Jason Wang – were promoted to partner. Zhu has 7 years of deep tech
industry experience, Kao has startup experience, and Wang has a
background in corporate management consulting.
Leveraging Lightspeed’s global network and resources, Lightspeed
China Partners will help entrepreneurs realize their visions for
interdisciplinary innovation and global transformation to maximize
positive and sustainable impact.
About Lightspeed China Partners
Lightspeed China Partners is a leading China-focused venture
capital firm serving entrepreneurs as a lead investor in early
stage and emerging growth companies. The partnership focuses on
green tech, deep tech, enterprise services, health tech and
consumer sectors. Through its offices in Shanghai, Beijing and Hong
Kong, Lightspeed China Partners manages $3 billion of committed
capital across eight USD funds and one RMB fund.
Lightspeed China Partners supports China’s innovation and is
committed to working with entrepreneurs to realize sustainable
development. To date, the partnership has helped develop a group of
transformational industry leaders. These companies include: Meituan
(HK: 3690), Pinduoduo (NASDAQ: PDD), Full Truck Alliance
(NYSE:YMM), Zhongji InnoLight (SZ: 300308), QingCloud Technology
(SH:688316), FinVolution (NYSE: FINV), Lianluo Interactive (SZ:
002280), Nemo (acquired by Baidu), MediaV (acquired by Qihoo 360),
FaceU (acquired by Toutiao), Hesai Technology, XYLink, LAIYE,
Hanshow, Southchip, Newrizon, Bluepha and Starfield.
version on businesswire.com: https://www.businesswire.com/news/home/20211129005690/en/
Meredith Kendall Maines Marketing Partner Lightspeed Venture
Partners email@example.com 310-739-6867