Lightspeed appoints Vivek Gambhir, Kevin Aluwi as venture partners for India, Southeast Asia

Lightspeed appoints Vivek Gambhir, Kevin Aluwi as venture partners for India, Southeast Asia

Lightspeed Venture Partners, a renowned venture capital firm that has supported prominent startups like ShareChat, Oyo, and Udaan, is reinforcing its presence in India and Southeast Asia by welcoming seasoned professionals Vivek Gambhir and Kevin Aluwi as venture partners.

Vivek Gambhir, boasting over 30 years of experience, notably served as the Chief Executive of Godrej Consumer Products, where he played a pivotal role in guiding the home and personal care company. His extensive expertise also includes serving as the Chief Strategy Officer of the Godrej Group. In his recent role, Gambhir held the CEO position at Boat, an audio products and wearables brand, later transitioning into a board member role. His influence extends to other consumer startups, as he currently sits on the boards of Mamaearth and Magicpin.

Kevin Aluwi, in his latest position, served as the CEO of Gojek, an Indonesian on-demand food and transportation service. His appointment at Lightspeed Venture Partners is expected to leverage his skills in marketing, product development, and scaling, contributing significantly to the growth of portfolio companies.

Bejul Somaia, Partner at Lightspeed Venture Partners, expressed enthusiasm about the new additions, emphasizing the role their experience would play in supporting founders and contributing to the growth and development of portfolio companies in the region. Gambhir and Aluwi, in their roles as venture partners, will collaborate closely with founders, providing valuable insights and shaping their entrepreneurial journeys.

Lightspeed Venture Partners has maintained a strong foothold in India and Southeast Asia, having invested in approximately 100 companies across sectors like enterprise software, fintech, consumer, and ecommerce. The venture capital firm's commitment to the region is evident in its successful fundraising efforts, including the $500 million raised for its fourth India and Southeast Asia fund in April last year, marking its largest fund for the regions. This followed a $275 million raise for its third India fund in 2020.

The strategic move to bring in Gambhir and Aluwi as venture partners aligns with the firm's mission to strengthen its team and partnerships, acting as a catalyst for the founders they serve. In a landscape marked by macroeconomic challenges, with overall funding in Indian startups plummeting by 70% to $7.5 billion in 2023, Lightspeed Venture Partners stands out as a beacon of support for the entrepreneurial ecosystem. As global and local peers intensify their focus on the region amid a funding downturn, Lightspeed's continued investment and bolstering of its team position it as a key player in fostering innovation and growth in India and Southeast Asia.

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January 23, 2024

Kalpana Maurya