Lightspeed is targeting $250 million for a new early-stage venture fund focused on India, betting that artificial intelligence will drive the next wave of startups in the region, according to an investor letter seen by TechCrunch.
Lightspeed targets $250M for new India fund focused on early-stage AI
The new vehicle, Lightspeed India Partners V, has already secured commitments for 80% of its $250 million target. This fund is half the size of the firm's $500 million predecessor raised in 2022. While Indian media had previously reported potential targets between $300 million and $350 million, the firm's latest communications indicate a smaller fund designed to focus on individual deals and a shorter investment period.
The fund will have an investment period of approximately two and a half years, with Lightspeed planning to begin investing within two months. The firm aims to focus more sharply on AI for its Indian strategy, anticipating that AI will create more value in the market than the internet did. The investment scope covers AI companies across India and Southeast Asia.
The move aligns the India fundraising cycle with Lightspeed's global funds for the first time. The firm, which manages over $65 billion in assets globally, has previously backed Indian AI company Sarvam AI, a developer of large language models.
Sources
- Lightspeed targets $250M for new India fund, focusing on early-stage AI （TechCrunch AI, 2026-09-25）