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Startups

VC firm that backed Snap and Pinduoduo expands to Southeast Asia

Lightspeed to deploy capital to region from its recently raised $4bn

Lightspeed Venture Partners has invested in Grab and is now looking to double down on Southeast Asia's tech scene. (Photo by Ken Kobayashi) 

JAKARTA -- Lightspeed Venture Partners, the prominent U.S. venture capital firm that backed the likes of Snap in the U.S. and Pinduoduo in China, launched its Southeast Asia operations on Thursday in a sign that the region's tech ecosystem is continuing to attract big players even amid the coronavirus pandemic.

While the company has already made a few investments in Southeast Asian startups, most notably in Singapore's Grab, it has decided to double down on the region by setting up an office in Singapore and has made two new hires as part of its four-person regional team.

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