Lightspeed is raising its largest China fund yet

Lightspeed China Partners, the China-focused affiliate of Silicon Valley-based Lightspeed Venture Partners, has set a $360 million target for its fourth flagship venture fund, according to a document filed with theU.S. Securities and Exchange Commission today. If the target is reached, the fund will be Lightspeed China’s largest yet, perPitchBook. Lightspeed China’s previous two funds each closed on $260 million. The VC raised $168 million for its debut fund in 2013.

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