Venture capital firm Lightspeed, known for supporting startups like Udaan and Oyo, has strengthened its leadership in India and Southeast Asia by appointing Vivek Gambhir and Kevin Aluwi as venture partners, aiming to deepen its engagement in these regions.
The move aligns with the trend of major venture capital firms seeking increased involvement in the Indian startup ecosystem. General Catalyst, a prominent VC firm in the U.S., is reportedly in discussions to acquire Venture Highway, an early-stage VC firm in India, emphasizing the growing interest in the third-largest startup ecosystem globally.
Vivek Gambhir, formerly the CEO of wearables company Boat, and Kevin Aluwi, ex-co-founder and CEO at Gojek, a comprehensive app for ride-hailing, food delivery, and payments in Indonesia, have been appointed as venture partners. Gambhir, currently a board member at Boat, also serves on the boards of companies like Metropolis Healthcare, Honasa Consumer (Mamaearth), and Magicpin.
Bejul Somaia, Partner at Lightspeed, expressed excitement about the appointments, stating, “At Lightspeed, the strength of our team and partnerships acts as a force multiplier for the founders we serve. We are thrilled to welcome Vivek and Kevin into our growing teams in India and SEA.”
These appointments hold strategic importance as Lightspeed has significant available capital waiting to be deployed. The firm raised $275 million for its third India fund in 2020 and an additional $500 million in 2022 to support emerging companies in India and Southeast Asia.
Somaia highlighted the roles of Gambhir and Aluwi as venture partners, emphasizing their collaboration with founders, contribution to growth, and shaping the journeys of portfolio companies in the region.
Lightspeed disclosed that its global team currently manages $25 billion in assets under management (AUM), operating across the U.S., Europe, India, Israel, and Southeast Asia.
