Jan. 3, 2019
Lightspeed China Partners, one of the leading early stage venture capital firms for China's tech industry, has closed on $560 million in committed funds, and is focused on future investments related to the payments industry, according to a press release.
Lightspeed China Partners said the funds include Lightspeed China Ventures IV at $360 million, which will focus on early stage companies, and Lightspeed China Partners Select I at $200 million, which is focused on growth investments, according to the release.
"We believe there are plenty of new opportunities in China consumer internet given the depth of China's mobile payment and social networks," said founding partner Herry Han, in the release. "Innovation and entrepreneurship in the next decade will bring more China-based startups to the world stage."
Lightspeed was an early stage investor in several tech firms that have launched successful IPOs, including Meituan Dianping, a group buying platform for local food delivery; Pinduoduo, an e-commerce platform for group buying and PPDai, an online consumer finance marketplace.
Topics: Financial News, Mobile Payments, Region: APAC
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