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Silicon Valley venture capital fund Lightspeed Venture Partners is internationally a tech focused investment firm. In India, it may slightly change the tack in order to be opportunistic as far as investments are concerned. The firm will make about half of its future investments in India in non-tech businesses, according to the firm's managing director in India, Srini Vudayagiri.
He told Mint: “ 40–50% of our investments in India will now be diverted to the non-tech sectors. This has been prompted by local market needs. We will mainly invest in consumer-driven sectors and allied infrastructure-led companies." The firm, which is currently investing out of its $480 million global fund raised in 2005, is in the process of raising a new global fund, and a quarter of it may be invested in India.
Lightspeed has invested (or co-invested) more than $50 million in five Indian companies, which include Four Interactive Pvt. Ltd (the owner of local information website AskLaila), TutorVista, Mercantila, Virsa Software and Nexus Capital.
According to Vudayagiri, Lightspeed would explore investment opportunities in the fields of marketing and media, education, health care and life sciences, and financial services, says the Mint report. They are also interested in companies associated with metal handling, logistics and component supplies.