Lightspeed Venture Partners launches latest pair of funds, eyes up to $1.8bn


US early-stage investor Lightspeed Venture Partners has launched its second pair of flagship funds in two years.

The firm has launched Lightspeed Venture Partners Select III and Lightspeed Venture Partners XII, which are seeking to raise a total of $1.8bn.

No capital or investors has been registered for the funds yet, according to a filing with the SEC, and a placement agent has not been listed.

If the funds hit their goal, they would comfortably surpass the $1.3bn raised across the predecessor pair in March 2016.

The investment strategy the funds will adopt upon a final close has not been revealed but the firm typically targets investments in the enterprise and consumer sectors, including big data, storage, networking, consumer, mobile, media, and cloud solutions, among others.

The firm currently manages over $3bn of committed capital and is currently investing out of Lightspeed XI.

Lightspeed X pulled in $635m while Lightspeed Select raised $430m.

It also invests out of an India-focused fund and a China-focused fund according to its website.

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