Lightspeed China Partners raises US$920 million to fund future projects

Lightspeed China Partners closed its largest round of fundraising totaling a record-breaking US$920 million on Tuesday.

The capital raised was contributed toward two funds: Lightspeed China Partners V, for emerging growth-stage investments, and Lightspeed China Partners Select II, for growth stage opportunities, in areas such as green tech and enterprise tech.

Lightspeed China Partners has been a long-time investor in green technology and has been supported by industry-leading companies such as EV commercial truck company Newrizon, synthetic biology and biomaterial company Bluepha, and China's leading plant-based meat company Starfield.

Oversubscription of new funds has shown to be "evidence of strong support garnered from returning and new institutional limited partners across the US, Europe and Asia," said James Mi, founding partner of Lightspeed China Partners.

"As our society is facing the significant challenges of climate change and inequality, we believe it is important to focus on start-up companies with innovative products and services that can bring a positive impact to the world," he added.

Green technology investment remains a sustainable opportunity and will remain one of the key investment areas for new funds.