Lightspeed Venture Partners is raising a fifth India-focused fund targeting $300 to $350 million, down from $500 million for its previous fund. The firm is scaling back the size of its Indian vehicle while shifting its investments toward AI, which now represents 60% of its recent India activity. The fund will focus on early-stage startups like Sarvam, Emergent, and Composio, with the firm expecting to realize approximately $500 million from its existing Indian portfolio by year-end. This move reflects a broader trend in the Indian venture capital landscape, as other major firms like Peak XV Partners and Elevation Capital also adjust their strategies in the region.
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