VCCircle

A US venture capital fund Lightspeed Venture Partners is getting their act together in India. It plans to invest $50-100 million in the Indian technology sector. The fund recently raised a $500 million fund, and about 10-20 per cent of it's likely to flow to India. "We have recently mopped up $0.5 billion through a new fund and we plan to invest part of it ($ 50-100 mn), in Indian IT companies providing services outside the country. The company would start talking to entrepreneurs for investment from May this year," Lightspeed Venture Partner Ajit Deora told The Hindu Business Line.

Lightspeed has already invested over $800 million in more than 100 technology companies in various countries like the US, Israel and China (click for portfolio). How does it plan to invest? It may look at direct route and also co-investing with other US-based VCs who already have investments in india. The fund will invest in early-to-mid-to-late stage companies.

Deora, who focuses on investment activities in India, is an operational-man-turned-VC. He was previously CEO of enKoo (acquired by SonicWall), prior to which he founded Beachhead Capital, an angel investment fund. He has been involved in several startups.

One of the founding General Partners of Lightspeed is an Indian, Ravi Mhatre. [Via Sify.com].

Thanks Ramesh (PD Software) for the link.