Lightspeed targets $675m for ninth fund

The filing for Lightspeed Venture Partners IX was made to the US Securities and Exchange Commission last week.

The target size is around 15% lower than Lightspeed's eighth global vehicle, which focuses on seed and early-stage companies primarily in information technology and cleantech market, and closed at $800 million in May 2008. In 2005, the firm raised $475 million for its seventh fund.

Lightspeed invests in fast-growing sectors include cleantech, communications, media and internet. Recent transactions include Craftsvilla.com, an Indian leading e-commerce portal for handmade products. Last year, it invested in OneAssist Consumer Solutions, a consumer-focused membership program.

It recently exited IO Turbine to Fusion-IO, another Lightspeed company which went public in 2011.

Last year, Lightspeed added entrepreneur Dev Khare as a principal to strengthen its India team. Prior to this, Khare worked with Venrock, a Menlo Park-based venture capital firm. He had also co-founded mobile application software company Covigo, which was later acquired by Symbol in 2003.

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• Topics
• South Asia
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• Fundraising
• Venture
• Lightspeed Venture Partners
• Fundraising
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