Lightspeed China Partners, whose founding partner James Mi ranked No. 51 on the 2021 Forbes Midas List, has raised $460 million for its Lightspeed China Partners V and $460M for its Lightspeed China Partners Select II. The capital raised marks the largest fundraising rounds in its history, Lightspeed China Partners said today.
The new funds, covering both early stage investments from Fund V and emerging growth stage investments from Select II in China, will focus on sectors including green tech, deep tech, enterprise tech, health tech and consumer.
“The funds’ oversubscription is evidence of the strong support garnered from returning and new institutional limited partners across the U.S., Europe and Asia,” Mi said in a press release.
Lightspeed China Partners manages $3 billion of committed capital across eight U.S dollar funds and one renminbi fund. In addition to green tech, Lightspeed China Partners has picked winners in the mobile internet, deep tech, and enterprise services space, including Meituan, Pinduoduo and Full Truck Alliance.
China, the world’s No. 2 economy, accounted for more than a fifth of the members of this year’s Midas List.
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