Lightspeed China Partners Closes Oversubscribed USD Fund III at $260 Million and Launches RMB Fund
Lightspeed China Partners (LCP) announced today that it has completed the final closing of Lightspeed China Partners III, L.P. with total committed capital of $260 million USD. Fund III was oversubscribed and received strong support from existing and new limited partners. LCP also announced completion of a substantial closing of its first RMB fund with a target size of 500M RMB.
LCP has investment professionals located in Shanghai and Beijing. With USD and RMB dual-currency venture funds, the partnership plans to continue investing in China-based early stage companies in Internet, mobile, Internet Plus (transforming traditional industries with Internet technologies), and enterprise technology sectors.
LCP has cumulatively invested in more than 60 early stage companies in China through Lightspeed China Partners I and II. The partners have also previously invested in Chinese startups through Lightspeed Venture Partners funds. In total, more than 70 percent of these investments were in seed or Series A rounds with LCP serving as lead investor in over 90 percent of the financings. Partner investments include Lian Luo Hu Dong, a leading mobile Internet company listed on the A share exchange in China (SHE:002280); MediaV, China’s largest Internet advertising platform company which was acquired by Qihoo 360 (NYSE: QIHU); Tujia, the largest online vacation rental service provider; Rong360, the leading Internet search site and marketplace for financial services targeting consumers and enterprises; Trusted Doctors, the largest mobile network for top-quality doctors and their patients; and InnoLight, a provider of optical transceiver products for large-scale data centers.
“Congratulations to Lightspeed China Partners on the successful closing of Fund III and the RMB fund,” said Zhang Tao, Dianping founder. “We have been partners with Lightspeed for many years. Their teamwork, experience, and global network of resources are of tremendous value to entrepreneurs. I look forward to further cooperation with Lightspeed China Partners in the future.”
“We are fortunate to have Lightspeed China Partners as our lead Series A investor,” said Justin Luo, CEO of Tujia. “They have provided tremendous help and support for us. As Tujia grows significantly in size, we look forward to working closely with the Lightspeed China Partners team.”
As a strategic partner of Lightspeed Venture Partners, LCP utilizes a global network of resources to keep abreast of international trends, new business models, and cutting edge technologies, as well as to help Chinese technology companies expand in global markets.
About Lightspeed China Partners
Lightspeed China Partners (LCP) is a leading venture capital firm in China focused on early stage investments in Internet, mobile, technology-enabled services, and enterprise solution companies. With strong backgrounds in company operations and entrepreneurship, the partners of LCP are committed to helping a new generation of Chinese entrepreneurs become industry leaders, build world-class companies, and create social impact. LCP offers international value-added capabilities through its relationship with Lightspeed Venture Partners, a global venture capital firm managing over $4 billion of committed capital with investment professionals and advisors located in Silicon Valley, India, and Israel.
Lightspeed China Partners
Jingying Li, (86) 21 5386 6500
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
OTEZLA® (Apremilast) Phase III Data Showed Significant Improvements in Patients with Active Behçet’s Disease with Oral Ulcers17.2.2018 21:00 | Pressemelding
Celgene Corporation (NASDAQ:CELG) today announced that data from the phase III RELIEF™ clinical trial of OTEZLA® (apremilast) in patients with active Behçet’s Disease with oral ulcers were presented in a late-breaking oral presentation at the 2018 American Academy of Dermatology (AAD) Annual Meeting. The results showed statistically significant reductions in oral ulcers with apremilast 30 mg twice daily (BID) versus placebo through week 12. OTEZLA (apremilast) is Celgene’s oral selective inhibitor of phosphodiesterase 4 (PDE4). Behçet’s Disease is a rare, chronic, multi-system inflammatory syndrome. Oral ulcers, the most common manifestation of Behçet’s Disease, can be disabling and have a substantial effect on quality of life. This study primarily evaluated the effect of apremilast on recurring oral ulcers in patients with active Behçet’s Disease who were previously treated with at least one topical or systemic medication. “Reducing oral ulcers, which are painful and can negatively im
CT-P13 (biosimilar infliximab) is comparable to reference infliximab and adalimumab in highly anticipated real-world study17.2.2018 08:00 | Pressemelding
Twelve-month data from the Personalised Anti-TNF therapy in Crohn’s disease Study (PANTS) was presented at the 13th Congress of the European Crohn’s and Colitis Organisation (ECCO). The results indicate that the clinical effectiveness, safety and immunogenicity of Celltrion Healthcare’s CT-P13 (biosimilar infliximab) in patients with Crohn’s disease (CD) is comparable to those treated with reference infliximab as well as those treated with adalimumab.1 The UK-wide, three-year prospective observational study investigated primary non-response (PNR), loss of response (LOR) and adverse drug reactions (ADR) to infliximab (reference infliximab and CT-P13) and adalimumab in 1610 CD patients. The data show comparable efficacy between CT-P13, reference infliximab and adalimumab in relation to PNR, LOR and ADR rates. In addition, at week 54, the remission rate was 39.7%, 39.0% and 32.7% for reference infliximab, CT-P13 and adalimumab treated patients, respectively.1 The PANTS study investigates
Avanti Communications HYLAS 4 Satellite Arrives in French Guiana16.2.2018 18:26 | Pressemelding
Avanti Communications Group plc (“Avanti”), a leading provider of satellite data communications services in Europe, the Middle East and Africa (“EMEA”), announces its HYLAS 4 satellite has arrived safely in French Guiana ahead of its March 2018 launch. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180216005586/en/ Avanti Communications HYLAS 4 Satellite Arrives in French Guiana (Photo: Business Wire) The spacecraft, built by Orbital ATK was packed and shipped at their Satellite Manufacturing Facility in Dulles, Virginia, United States and flown to French Guiana, where it was unloaded and will be taken to the Arianespace launch facilities in Kourou. HYLAS 4 uses the latest High Throughput Satellite technology, doubling Avanti's Ka-band capacity across EMEA. The latest addition to Avanti's HYLAS fleet will provide: Backhaul services for mobile network operators Wholesale broadband for ISPs Connectivity for governments (civil a
General Cable Corporation Stockholders Approve Acquisition By Prysmian Group16.2.2018 17:05 | Pressemelding
General Cable Corporation (NYSE: BGC) today announced the voting results from the Company’s special meeting of stockholders held this morning. Stockholders of General Cable approved the Company’s previously announced acquisition by Prysmian Group (BIT: PRY) for $30.00 per share in cash. A total of 38,140,754 shares, representing approximately 75.34% of the total number of shares of common stock outstanding and approximately 99% of the total votes cast, were voted in favor of the merger. Subject to regulatory approvals and other customary closing conditions, the transaction is expected to close by the third quarter of 2018. About General Cable General Cable (NYSE:BGC), with headquarters in Highland Heights, Kentucky, is a global leader in the development, design, manufacture, marketing and distribution of aluminum, copper and fiber optic wire and cable products for the energy, communications, automotive, industrial, construction and specialty segments. General Cable is one of the larges
Systemic Sclerosis World Congress:Inspirational Patient Stories Reveal the Challenging Realities of Living with Devastating Rare Disease16.2.2018 09:03 | Pressemelding
Boehringer Ingelheim today unveils a new phase of 'More Than Scleroderma: The Inside Story', and launches the new patient website www.morethanscleroderma.com. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180216005188/en/ Anna, 36, living with scleroderma (Photo: Business Wire) The global initiative highlights the importance of understanding the ‘inside story’ of each individual living with scleroderma, also known as systemic sclerosis. To coincide with the Systemic Sclerosis World Congress in Bordeaux, 15-17 February 2018, new and truly inspiring patient stories are revealed, reflecting the real-life, diverse and very moving journeys of people living with scleroderma across the world. The campaign will also be launched in the U.S. The new website www.morethanscleroderma.com features a powerful collection of photographs and video stories of people living with scleroderma across the world, revealing the life-changing impact o
Philip Morris International Recognized as a Global Top Employer for the Second Year in a Row16.2.2018 08:00 | Pressemelding
Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM) today is recognized for the second year in a row as a Global Top Employer. This year’s certification from the Top Employer Institute is awarded to PMI teams in 44 countries, a testament to the company’s consistency and excellence in offering an enriching and dynamic work environment, and exceptional development opportunities for employees across the globe. PMI has been recognized by the Top Employer Institute for six consecutive years. This year, PMI was awarded with five regional certifications in Europe, the Middle East, Africa and, for the first time, in North America and Latin America. Additionally, Indonesia was the first PMI affiliate to be certified in Asia. “It is a proud moment for all of us at PMI,” said Charles Bendotti, PMI Senior Vice President, People and Culture. “Our success as a company relies on the men and women who come to work every day with a passion to achieve, and a willingness to learn, grow, and