Lightspeed Venture Partners today announced the launch of its Southeast Asian business. Based in Singapore’s new regional headquarters, the Lightspeeds team will invest in startups across Southeast Asia from three global funds that closed earlier this year (approximately $ 4 billion in total).
The Southeast Asian team is made up of partner Akshay Bhushan, who was a founding member of the Flipkarts Corporate Development Team before joining Lightspeed five years ago. Bejul Somaia, a partner who helped establish Lightspeed India. Veteran of Grab and Tiger Global Management, Vice President of Pinn Lawjindakul. Marsha Sugana, a senior investment associate who once worked for L Catterton and Goldman Sachs.
Bhushan told TechCrunch that Lightspeed will open its Singapore office in January to serve as a base for teams that meet entrepreneurs across the region. Obviously, the onset of COVID-19 reduced travel, but they continued to talk to start-ups through video calls and email.
Lightspeed focuses on early stage investments and has already invested in some of Southeast Asia’s most prolific start-ups, including Grab. Other portfolio companies in the region are Indonesian startup Chilibeli, social commerce platform, B2B wholesale market Ula, e-commerce logistics platform Shipper, and Singapore software developer NextBillion.AI.
Some of our investments in Lightspeeds in other countries are also keenly interested in Southeast Asia as a major global market, including Indian startups OYO Rooms, Darwin Box and Yellow Messenger.
By doing a regional business, Lightspeed will be able to work more closely with its portfolio companies and deepen entrepreneurial relationships, Boushan said.
The pandemic added that it has fueled the rapid adoption of technology, including platforms that help small businesses digitize their businesses, sell them online, and sell supply chain solutions and remote working and online education-related services. I did.
In areas such as fintech and logistics, there are plenty of opportunities to build innovative platforms and services in some Southeast Asian countries. For example, Bhushan said Shippers are focused on solving the largest supply chain and logistics challenges facing Indonesian e-commerce distributors, while Grab is moving to other financial services such as digital payments and insurance. Made it easier to access.
“A big opportunity in most emerging markets, which applies to most markets in Southeast Asia, has broken much of the basic infrastructure and founders can leverage technology to fill those gaps. I know I can do it, “he said. “It’s the founders who are solving these infrastructure problems that excite us, and many of our investments are in their effectiveness.”
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