The company told Reuters that over $1.05 billion of the new funding would be for a fund that’s focused on investments in more mature companies, even though the VC firm has been known for betting on early-stage investments.
Who Is Lightspeed?
Lightspeed, the first investor in the messaging application Snapchat, intends to extend its reach in Southeast Asia and start investing including in cryptocurrencies.
A Lightspeed partner Jeremy Liew said that old companies are more consolidated in their industries than young startups. He said: it “has only been increasing over time, and as a result, our funds have been getting bigger over time as well.”
Lightspeed’s Previous Success
Due to the past success of Lightspeed’s previous funds which have returned $2.7 billion to investors, it will be a challenge for them to meet performance expectations. According to Reuters, companies backed by Lightspeed have handled 17 initial public offerings (IPO) during the last five years.
Meanwhile, Binance gave a helping hand to Japan with $1 Million donation for the victims of floods and landslides.