Lightspeed Venture Partners introduced the launch of its Southeast Asia operations immediately. Primarily based out of the agency’s new regional headquarters in Singapore, Lightspeed’s workforce there’ll spend money on startups all through Southeast Asia from the three global funds it closed earlier this year, which whole about $four billion.
The Southeast Asia workforce consists of accomplice Akshay Bhushan, who was a founding member of Flipkart’s company growth workforce earlier than becoming a member of Lightspeed 5 years in the past; accomplice Bejul Somaia, who helped arrange Lightspeed India; vp Pinn Lawjindakul, a veteran of Seize and Tiger World Administration; and senior funding affiliate Marsha Sugana, who beforehand labored at L Catterton and Goldman Sachs.
Bhushan instructed TechCrunch that Lightspeed opened its Singapore workplace in January to function a base for its workforce as they met with entrepreneurs all through the area. Clearly, the onset of COVID-19 curtailed journey, however they continued speaking to startups via video calls and emails.
Lightspeed focuses on early-stage investments and has already invested in a number of the most prolific startups in Southeast Asia, together with Seize. Its different portfolio firms within the area are Indonesian startups Chilibeli, a social commerce platform, B2B wholesale market Ula and e-commerce logistics platform Shipper, in addition to Singaporean software program developer NextBillion.AI.
A few of Lightspeed’s investments in different international locations have additionally taken a eager curiosity in Southeast Asia as a key marketplace for world enlargement, together with Indian startups OYO Rooms, Darwinbox and Yellow Messenger.
Having regional operations will enable Lightspeed to work extra intently with its portfolio firms and make deeper connections with entrepreneurs, Bhushan mentioned.
He added that the pandemic has prompted the speedy adoption of applied sciences, together with platforms that assist small companies digitize their operations or promote on-line, provide chain options and distant working or on-line education-related providers.
In sectors like fintech or logistics, there may be additionally a variety of alternative in a number of Southeast Asian international locations to construct transformative platforms and providers. For instance, Bhushan mentioned, Shipper is concentrated on fixing a number of the largest provide chain and logistics challenges going through e-commerce sellers in Indonesia, whereas Seize has made digital funds and different monetary providers like insurance coverage simpler to entry.
“The massive alternative in most rising markets, and this is applicable to many of the markets in Southeast Asia, is that we usually discover that a variety of the elemental infrastructure is damaged, and founders can leverage expertise to fill these gaps,” he mentioned. “What excites us are founders who’re fixing these infrastructural issues, and a variety of our investments are to that impact.”