In brief: Lightspeed’s China fund raises $560m

Lightspeed China Partners announced the close of its fourth fund with a total capital of US$560 million, the biggest round it raised to date. This includes Lightspeed China Partners IV (US$360 million) and Lightspeed China Partners Select I (US$200 million). The former will invest in early-stage technology companies in China, while the latter will work on growth investments in the country.

In the past year and a half, several companies from the firm’s portfolio have completed successful IPOs, including Pinduoduo and Meituan Dianping.

Source: Business Wire