Lightspeed China Partners Closes on $560 Million of Committed Capital
Lightspeed China Partners (LCP) announced that it has completed the final closing of fund family IV with total committed capital of $560 million, including Lightspeed China Partners IV at $360 million and Lightspeed China Partners Select I at $200 million. This is the largest fund family raised by LCP to date and brings committed capital under management to $1.5 billion. LCP IV will make investments in early stage technology companies in China while LCP Select I will focus on growth investments in China.
In the past 18 months, five portfolio companies that LCP invested in at an early stage have completed successful IPOs, including InnoLight (SZ:300308), Meituan Dianping (HK:3690), Pinduoduo (NASDAQ:PDD), PPDai (NYSE:PPDF), and Rong360 (NYSE:JT).
In addition to the publicly traded companies, LCP has nurtured many innovative industry leaders across multiple sectors, including Black Fish, Fan Deng Reading Club, Fangdd, Full Truck Alliance, Hesai, Ifchange, QingCloud, Sunmi, Sweetome, Tencent Trusted Doctors, Tujia, Xiao Peng Auto, and XY Link.
First Institutional Venture Capital with Global Reach
The LCP team serves as lead investors in companies’ first institutional venture capital financings with a focus on Series A and Series B investments in China. The team brings an entrepreneurial perspective as many team members have either been successful entrepreneurs or have served as executives in technology companies. While partnering at the earliest stages of company formation, LCP is committed to financing companies throughout their lifecycles and contributing teambuilding and strategy development capabilities. LCP also provides founders with global aspirations access to an international network through Lightspeed’s global venture capital operations which include over 400 portfolio companies in the U.S., China, India, Southeast Asia, Europe, and Israel. LCP has access to global trends and business model innovation as well as international talent, customers, partners and capital markets. Over more than a decade, LCP has developed a track record of helping China-based companies establish dominant market positions and expand globally.
Early Backers of Emerging Concepts
LCP has been an early investor in China’s consumer Internet, Internet+, and enterprise/deep tech sectors. More than half of the partnership’s investments have been in consumer Internet and Internet+, where technology is applied to create disruptive new business models in traditional industries. Notable areas of investment include social network applications, marketplaces, e-commerce, consumer services as well as enterprise products/services and deep tech. LCP has supported and nurtured an outstanding group of early-stage companies that have become unicorns in areas including new retail, culture, entertainment, travel, finance, real estate, healthcare, education, recruiting, and transportation.
LCP has successfully identified emerging market opportunities and has often served as the first source of capital in areas where there was initially limited institutional interest. A notable example is trucking logistics. Five years ago, LCP was the sole Series A investor in Full Truck Alliance (Yun Man Man) when the founders were exploring using a mobile platform to solve logistics and communications challenges in China’s fragmented trucking industry. After multiple large follow-on rounds where LCP continued to invest, the company merged with Huo Che Bang to form Full Truck Alliance which is now the world’s largest trucking logistics marketplace.
Due to the size of the consumer markets in China and availability of technology talent, China-based Internet and marketplace companies are increasingly becoming world leaders. Herry Han, Founding Partner of LCP, commented: “We believe there are plenty of new opportunities in China consumer Internet given the depth of China’s mobile payment and social networks. Innovation and entrepreneurship in the next decade will bring more China-based startups to the world stage. This will be China’s first decade of truly global innovation. Chinese entrepreneurs are now developing business plans with global expansion in mind from day one. We look forward to meeting entrepreneurs with ambitious visions and supporting them in realizing their dreams.”
LCP was also early to the enterprise and deep tech sectors in China. According to LCP Founding Partner, James Mi: “China’s enterprise service and deep tech innovation is in the early innings of development. Given China’s vast market, deep talent pool, and increasing demand for home-grown deep technologies across various industries, we are seeing accelerated growth and significant investment opportunities. LCP is uniquely positioned to be the leading early stage investor in these areas.” The LCP team has been investing in deep tech and enterprise opportunities from the beginning with multiple public company outcomes.
One of LCP’s deep tech portfolio companies is InnoLight which provides high speed optical transceiver modules for web-scale data centers supporting cloud computing. Customers include Google, Amazon AWS, and AliCloud. LCP invested in InnoLight in 2014, and the company became publicly listed in 2017.
LCP’s enterprise and deep tech investments span autonomous vehicles, AI, IoT, SaaS, enterprise marketplaces, semiconductors, and optical communications. The team will continue to leverage its deep tech industry expertise in support of experienced founders building industry leading companies.
Supportive Culture Underpinning Value Creation
Focus, excellence, mutual respect, and support are among the core values of LCP. The partnership believes that mutual respect and support between investors and entrepreneurs is a cornerstone of effective long-term partnerships. This principle applies equally within the firm. LCP strives to promote positive change and impact to society in the way it conducts its business. The team looks forward to continuing its partnership with game-changing founders and accompanying them from the beginning of their startup journeys through multiple stages of global growth.
About Lightspeed China Partners
Lightspeed China Partners (LCP) is a leading venture capital firm in China focused on early stage investments in consumer Internet, Internet+ and enterprise/deep tech. With strong backgrounds in company operations and entrepreneurship, the partners of LCP are committed to helping a new generation of Chinese entrepreneurs become industry leaders, build world-class companies, and create social impact. Over the past 10 years, the Lightspeed China team has backed industry leading companies including Meituan Dianping, Pinduoduo, Full Truck Alliance, InnoLight, PPDai, Rong360, Tujia and Fangdd. LCP offers international value-added capabilities through its relationship with Lightspeed Venture Partners, a global venture capital firm managing over $6 billion of committed capital.
Lightspeed Venture Partners
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Axonics® Announces U.S. Food & Drug Administration Approves Use of Full-Body MRI for Pivotal Study Patients18.6.2019 13:00:00 EEST | Tiedote
Axonics Modulation Technologies, Inc. (NASDAQ: AXNX), a medical technology company focused on the development and commercialization of novel implantable sacral neuromodulation (“SNM”) devices for the treatment of urinary and bowel dysfunction, today announced the U.S. Food & Drug Administration (“FDA”) approved the use of full-body magnetic resonance imaging (“MRI”) using 1.5 Tesla MRI scanners for clinical study patients implanted with the Axonics System. The approval was a result of a supplement filed by Axonics with the FDA under the Investigational Device Exemption (“IDE”) regarding the Company’s ARTISAN-SNM 129-patient pivotal clinical study. The FDA concluded that Axonics provided sufficient data to support full-body MRIs. Raymond W. Cohen, CEO of Axonics, commented, “Allowing full-body MRI scans for our clinical study patients means that none will have to undergo an explant of their neurostimulator device should they require an MRI. We view this as a very positive step by the FD
Norsk Titanium Receives Airbus Contract for Qualification and Production18.6.2019 13:00:00 EEST | Tiedote
Officials with Norsk Titanium (Norsk) announce today a contract award from Airbus for the Qualification and Serial Production of the first parts to be manufactured utilizing wire-based Direct Energy Deposition (DED) additive manufacturing technology. “We have worked closely with Airbus over several years to demonstrate the technological maturity and the industrial readiness of our Rapid Plasma Deposition™ (RPD™) process,” said Norsk President and CEO Michael Canario. “This contract award is structured to enable long-term, serial production immediately following qualification. Our Plattsburgh, New York facility, with the assistance of Airbus technical leadership, has been preparing for this moment and is eager to demonstrate a 21st century advanced additive manufacturing capability.” This qualification of Airbus parts will demonstrate the suitability of the DED additive manufacturing process for aircraft structural parts. It will formalize the process by which individual parts are produ
Innovusion Announces Its High-Resolution Image-Grade LiDAR System “Cheetah”, Enabling the Safest Performance in the Vehicle Mobility Industry18.6.2019 12:00:00 EEST | Tiedote
Innovusion Inc., the worldwide leader in the design and development of innovative hybrid Solid State LiDAR systems for vehicle safety applications, has announced the availability of its Cheetah system. Based on its innovative rotating polygon optical architecture, Innovusion has melded together proprietary detector electronics, advanced optics and sophisticated software algorithms to offer a system that has no equal in the long-distance, high-resolution LiDAR vehicle mobility system industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190618005066/en/ Innovusion's Cheetah long-distance LiDAR System...the safest in the mobility safety industry (Graphic: Business Wire) Smart architecture, streamlined optics design, and integrated optical paths result in rapid manufacturing, scalability into automotive production, and lower cost. The ability to provide a detection range of 200 meters on objects with 10% reflectivity and cle
You Bank the Digital Asset Banking Platform Presents at UNCHAIN 2019 in Berlin18.6.2019 11:25:00 EEST | Tiedote
The Blockchain Conference UNCHAIN 2019 was held in Berlin, Germany, from June 14 to 15, 2019. You Bank, a digital asset banking platform, attended and delivered a speech at the conference. You Bank has henceforth made a brilliant appearance in the European market and officially opened the prelude of the global layout! You Bank’s Digital Asset Banking Platform, the Federal Reserve of the Digital World You Bank, a world-class multinational blockchain financial service platform, is a well-deserved global leader in the field of digital asset management. Headquartered in Singapore, You Bank was founded by the Richmond family, one of the nine Jewish families known as the "Rothschild" family in the digital world. You Bank Global CEO Daniel attended and delivered a speech at the conference. He introduced that the original intention of You Bank was to establish a digital bank which could operate world-widely in the digital economy era. You Bank will cover digital asset management, digital asset
Norsk Titanium Marks Milestone in Additive Manufacturing18.6.2019 11:00:00 EEST | Tiedote
Officials with the University of Notre Dame Turbomachinery Laboratory (NDTL), Norsk Titanium (Norsk), Pratt & Whitney and TURBOCAM International announce the continuation of testing of an additively manufactured integrally bladed rotor (IBR). Building on initial testing completed in 2018, this next phase of testing examines the dynamic properties of the IBR. Manufactured using Norsk’s revolutionary Rapid Plasma Deposition™ (RPD™) process, the IBR was inspected to the same quality specifications used in Pratt & Whitney’s current turbomachinery components. The tests are being conducted at NDTL’s world-class turbomachinery test facility in South Bend, Indiana. After completion of the initial testing, where the IBR met 100% of all design, speed and pressure ratio test points, the current test program looks at low and high cycle fatigue characteristics of the IBR. Testing will include multiple acceleration/deceleration cycles and investigate synchronous vibration effects on the additively m
Hansol Paper and Iconex Announce Mutual Decision to Withdraw from Agreement Governing Sale of Schades and R+S to Iconex18.6.2019 11:00:00 EEST | Tiedote
Iconex and Hansol Paper announced today that the companies are withdrawing from their definitive agreement signed November 2, 2018, under which Iconex would have acquired Schades and R+S from Hansol Paper. This decision, reached by mutual agreement between the parties, is due to the ruling of The United Kingdom’s Competition and Markets Authority (CMA) to move the approval process for this transaction to Phase 2. This allows the UK CMA an additional six months to reach a decision, which was deemed to be too long of a delay by both parties. The parties believe that the proposed transaction met the relevant legal criteria for approval in the UK, and that it was in the best interests of our customers, employees and the marketplace in the United Kingdom and beyond. This UK CMA decision was unexpected by both parties given that the European Commission cleared the deal earlier this spring. Like elsewhere in Europe, the UK market is highly competitive with a significant number of players. “Th
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme