Lightspeed Venture Partners, which has backed the likes of Oyo, ShareChat, Udaan, Zepto and PhysicsWallah, is targeting to raise a smaller India-focussed fund with a sharper focus on early-stage deeptech and artificial intelligence startups amid struggles in its growth-stage portfolio, four people aware of the matter told ET.
The fifth India fund is expected to be around $300–350 million, according to people familiar with the matter, making it significantly smaller than its previous corpus of $500 million raised in 2022.
