Lightspeed Raises $250M India Fund Betting on AI

Lightspeed is targeting $250 million for its fifth India fund, Lightspeed India Partners V, with 80% of commitments already secured. The fund is half the size of its 2022 predecessor and will begin deploying capital within two months across an approximately two-and-a-half-year investment period. The new fund marks a sharp pivot to AI for Lightspeed's India strategy, with the firm betting the technology will create more value in India than the internet did. Lightspeed plans to target AI companies across India and Southeast Asia, building on existing investments in firms like Sarvam AI, a government-backed large language model developer.