Earlier this afternoon, , a Shanghai-headquartered VC firm affiliated with , filed paperwork with the SEC indicating its intent to raise $560 million across two new venture funds.
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The filing for Lightspeed China Partners’s fourth flagship fund, , was the first to cross the wires. If fully raised, it would be the largest venture fund Lightspeed China Partners has raised to date.

The second filing was for an entity called “,” a $200 million investment vehicle likely targeting follow-on investments in the firm’s best-performing portfolio companies.
So far in 2018, Lightspeed China Partners has invested in a. These include leading of an already round raised by Nanjing-based fintech firm . The firm also participated in raised by financial marketplace .
Since the firm raised its inaugural fund in 2013, Lightspeed China Partners has enjoyed three portfolio company exits, . These include e-commerce platform Pinduoduo (IPO in July), mobile photo editing and sharing app (), and peer-to-peer lending platform (IPO).
The filings indicate that no capital has been secured yet for either fund. It’s important to remember that publicly-disclosed fundraising targets are subject to change.
That being said, Lightspeed China Partners is affiliated with a firm that’s no slouch in the VC fundraising market. In July, Lightspeed Venture Partners closed $1.8 billion across its and . Considering it was 106 days between the initial filings for those funds and , it’s safe to say that Lightspeed China Partners will likely close out its fundraising campaign sometime in 2019.
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