FinTech news in Elevation Capital category

Lightspeed began investing in India over 10 years ago and has amassed an impressive portfolio of several fast-growing startups including Byju’s, India’s most valuable startup, SaaS firm Innovaccer, e-commerce giant Udaan, social media giant ShareChat and payments giant Razorpay. The firm, which has a team of nine partners in India and Southeast Asia, is nearly doubling the size of its fund because it’s seeing more opportunities in the regions as a young crop of startups attempt to solve deeper and newer problems, said Rahul Taneja, a partner at Lightspeed, in an interview with journalist. The fund, fourth for Lightspeed India, was hard-capped at $500 million, meaning it didn’t want to raise additional capital, said the firm, which unveiled its $275 million third India fund in 2020. The Tuesday announcement confirms journalist April report, which said Lightspeed had kick started fundraising deliberations for the new India and Southeast Asia fund and was aiming to raise about $500 million.