Lightspeed appoints Vivek Gambhir, Kevin Aluwi as venture partners to expand India and SEA focus
Lightspeed, the VC firm supporting startups like Udaan and Oyo, has strengthened its leadership in India and Southeast Asia. Vivek Gambhir and Kevin Aluwi join as venture partners, reflecting a broader strategy to deepen their presence in the regions. This move aligns with the trend of major VC firms expanding their reach in the Indian startup ecosystem. For instance, General Catalyst, a prominent US VC firm, is reportedly exploring the acquisition of Venture Highway, an early-stage VC firm in India, signaling a commitment to further invest in the world's third-largest startup ecosystem.
Gambhir, formerly the CEO of wearables company Boat, brings over three decades of executive experience in various sectors, including roles at Godrej, Bain & Company, and others. He is no longer Boat's CEO but serves as a board member and is on the boards of Metropolis Healthcare, Honasa Consumer (Mamaearth), and Magicpin.
Kevin Aluwi, formerly the Co-Founder and CEO of Gojek, a ride-hailing, food-delivery, and payments app in Indonesia, oversaw its public listing in 2022 after merging with local e-commerce company Tokopedia. These appointments align with Lightspeed's strategic focus, emphasizing sectors like Enterprise Software, FinTech, Consumer, and Commerce, while also supporting startups in emerging areas such as AI, Climate, and space-tech.
Bejul Somaia, Partner at Lightspeed, expressed excitement about welcoming Vivek and Kevin, emphasizing their role in strengthening the teams in India and Southeast Asia. The appointments gain significance as Lightspeed is well-positioned with substantial capital, having raised $275 million in 2020 for its third India fund and an additional $500 million in 2022 to support innovative companies in India and Southeast Asia.
