Lightspeed China Companions, a Shanghai VC agency and in addition an affiliate of Silicon Valley-based firm, is intending to boost $560 million throughout its two new enterprise funds.
Based on a doc filed with U.S. Securities and Alternate Fee at this time, Lightspeed China Companions has set a goal of $360 million for its fourth flagship enterprise fund.
If the goal is reached, it could be the biggest enterprise fund Lightspeed China Companions has raised to this point. Its earlier two every closed on $260 million.
For the reason that agency raised its debut fund of $168 million in 2013, Lightspeed China Companions has loved three portfolio firm exits which embody e-commerce platform Pinduoduo, cellular photo-editing app FaceU, and peer-to-peer lending platform PPDai.
The funding is backed by David Mi, an investor in a number of billion-dollar corporations. Mi was beforehand the director of company improvement at Google and joined Lightspeed in 2008. Later in 2011, he established the agency’s China presence. Yan Han, a long-time Lightspeed capitalist and a founding accomplice of the agency’s Chinese language department, is moreover famous on the submitting.
Earlier this 12 months in July, Lightspeed Enterprise Companions closed a report $1.8 billion in new allegiances. Additionally, it has pinned new companions onto its enterprise funding groups, together with Slack’s former head of development and Twitter’s former vice chairman of worldwide enterprise improvement.
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