Lightspeed targets $250 million for AI-focused India fund

Lightspeed is seeking $250 million for a new early-stage India fund focused on AI companies, with commitments for 80% of that target already secured, TechCrunch reported from a letter to investors. The proposed fund is half the size of its $500 million predecessor, raised in 2022. The firm plans to begin investing from the new fund within two months and to pursue opportunities across India and Southeast Asia. It is also moving its India funds onto the same fundraising cycle as its global funds. A Lightspeed spokesperson declined to comment, and the $250 million target has not yet been fully raised.