Lightspeed raises over $4 billion to support entrepreneurs amid coronavirus threat

(Reuters) – Lightspeed Venture Partners said on Tuesday it raised more than $4 billion for three new funds to support early and growth stage entrepreneurs even as the coronavirus outbreak threatens the global economy.

The California-based venture capital firm’s announcement coincides with companies across the globe preparing to brace for an imminent economic downturn caused by the pandemic.

Lightspeed has historically been an early-stage investment firm and was the first outside investor in Snap’s (SNAP.N) messaging app Snapchat.

Reporting by Amal S in Bengaluru; Editing by Bernard Orr

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