Insurance group Taiwan Life is providing $20m of capital for US-based venture capital firm Lightspeed Venture Partners, DealStreetAsia reported today, citing a regulatory filing.
The investment will consist of $10m contributions to the firm’s Lightspeed Venture Partners Select IV and Lightspeed Venture Partners XIII funds. Both were registered last week without official targets, their predecessors having closed at a combined $2.1bn.
Founded in 1999, Lightspeed Venture Partners currently has $7.9bn under management and runs regional subsidiaries called Lightspeed China Partners and Lightspeed India Partners in addition to maintaining an Israeli office.
The firm’s exits have included Snap, the messaging app developer formerly known as Snapchat, as well as local services portal Meituan Dianping, application network software provider MuleSoft and food delivery service Grubhub.
Taiwan Life has not been an active venture capital investor but did supply $50m for VC firm Bessemer Venture Partners’ Century Fund in September 2019 as part of several commitments to private equity and venture funds.
