Lightspeed announces the launch of its Southeast Asia operations – ClearTips
Lightspeed Venture Partners today announced the launch of its South East Asia operations. Outside the firm’s new regional headquarters in Singapore, Lightspeed’s team will invest in startups across Southeast Asia from three global funds closed earlier this year, totaling $ 4 billion.
The South-East Asia team includes partner Bhushan, who was a founding member of Flipkart’s corporate development team before joining Lightspeed five years ago; Partner Bejul Somia, who helped set up Lightspeed India; Vice President Peen Logindkul, a veteran of Grab and Tiger Global Management; And senior investment associate Marsha Sugna, who previously worked at El Catterton and Goldman Sachs.
Bhushan told ClearTips that Lightspeed opened its Singapore office in January to serve as the basis for his team as they met with entrepreneurs from across the region. Apparently, COVID-19 was initially stalled, but they continued to talk to the startup via video call and email.
Lightspeed focuses on early-stage investments and has invested in some of Southeast Asia’s most prolific startups, including Grab. Other portfolio companies in the region are Indonesian startups Chilibelli, a social commerce platform, B2B wholesale market Place Ula, and e-commerce logistics platform shipper, as well as Singaporean software developer NextBillion.AI.
Some of Lightspeed’s investments in other countries have taken a keen interest in Southeast Asia as a key market for global expansion, including Indian startups Oyo Rooms, Darwinbox and Yellow Messenger.
Bhushan said that having regional operations will allow Lightspeed to work more closely with its portfolio companies and build deeper relationships with entrepreneurs.
He said the epidemic has led to the rapid adoption of technologies, including platforms that help small businesses digitize their operations or sell online supplies, supply chain solutions and services related to remote work or online education Huh.
In areas such as fintech or logistics, many Southeast Asian countries have a lot of opportunity to build transformational platforms and services. For example, Bhushan said, the shipper focuses on solving some of the biggest supply chain and logistics challenges facing e-commerce vendors in Indonesia, while Grab has made it easier to access other financial services such as digital payments and insurance.
“The big opportunity in most emerging markets, and this applies to most markets in Southeast Asia, is that we generally find that a lot of the infrastructure is broken, and the founders use technology to fill those gaps. Can take advantage of, ”he said. “What excited us are the founders who are solving those infrastructure problems, and a lot of our investment is to that effect.”