An investor letter and an earlier regulatory filing show that Lightspeed has closed a $250M AI fund aimed at India and Southeast Asia.
Money from Lightspeed India Partners V is expected to start going out inside two months, and roughly 80% of the pool is already spoken for. The partners who ran the firm’s first four India funds are the same ones managing this vehicle.
At $250M it comes in at half the size of the $500M regional fund Lightspeed assembled in 2022. The firm told investors the cut follows a quicker deal cadence and a deployment window shortened to two and a half years, and that India vehicles will now sit on the same fundraising schedule as the rest of the firm.
A policy shift helps explain the timing. India put out national AI governance guidelines this year, and Lightspeed’s bet is that clearer rules steer founders toward applications rather than infrastructure.
The firm’s overall footprint is more than $65B under management, and it pulled in $9B across new funds in December 2025. Anthropic, xAI and Databricks sit in the portfolio, as do the Indian companies Zepto and Pocket FM.
