# Dev Khare
Dev Khare is a Partner at Lightspeed India Partners, the India and Southeast Asia arm of the [Silicon Valley](https://www.edgepedia.org/silicon-valley) venture firm Lightspeed Venture Partners, where he has invested since 2011 in consumer and enterprise companies with low-friction, software-based models. His best-known deals include PhysicsWallah, Razorpay, Darwinbox, ShareChat, and [Pocket FM](https://www.edgepedia.org/pocket-fm-company), and in recent years a cluster of AI-native companies such as Qure.ai, Triomics, and Portkey.ai.[1](https://lsvp.com/team-member/dev-khare/) • [2](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/)
| Fact | Detail |
|---|---|
| Firm and role | Partner, Lightspeed India Partners; joined November 2011[1](https://lsvp.com/team-member/dev-khare/) • [3](https://www.linkedin.com/in/dkhare) |
| Focus | Consumer and enterprise companies with low-friction, software-based models; India and Southeast Asia[1](https://lsvp.com/team-member/dev-khare/) |
| Earlier career | Product manager at CrossWorlds Software (1998–2000); founder of Covigo (2000), acquired by Symbol Technologies; VP at Venrock (2006–2011)[1](https://lsvp.com/team-member/dev-khare/) • [3](https://www.linkedin.com/in/dkhare) |
| Education | MBA, Harvard Business School, 1996–1998[3](https://www.linkedin.com/in/dkhare) |
| Notable investments | PhysicsWallah, Razorpay, Pocket FM, ShareChat, Darwinbox, Qure.ai, AccelData, Portkey.ai[2](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/) |
| Board seats (self-reported) | Qure.ai, Zluri, Triomics, Scrut Automation, Geniebook, Pepper Content, Yellow.ai, Acceldata, Darwinbox, ShareChat[3](https://www.linkedin.com/in/dkhare) |
| Base | Bay Area since mid-2021, investing exclusively in India and Southeast Asia[4](https://lsvp.com/stories/lightspeeds-bet-on-india-going-global/) |
## Early life and education
Khare flew to the United States in 1990 for college and a two-year work stint, then returned for business school; during his MBA he spent a summer interning in Bengaluru in 1997.[4](https://lsvp.com/stories/lightspeeds-bet-on-india-going-global/) He completed his MBA at [Harvard Business School](https://www.edgepedia.org/harvard-business-school) between 1996 and 1998.[3](https://www.linkedin.com/in/dkhare)
## Career
After finishing his MBA in 1998, Khare moved to Silicon Valley as a product manager at an enterprise software company, CrossWorlds Software, where he worked from July 1998 to February 2000; CrossWorlds was later acquired by IBM in January 2002 for $129 million.[3](https://www.linkedin.com/in/dkhare) In February 2000 he co-founded Covigo, a developer platform for mobile applications, backed by Nokia Ventures, Norwest Venture Partners, and Levensohn Capital; Covigo was acquired by NYSE-listed Symbol Technologies, and he left in mid-2004.[1](https://lsvp.com/team-member/dev-khare/) • [2](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/) • [3](https://www.linkedin.com/in/dkhare)
Khare then spent roughly six years in Silicon Valley venture capital as a Vice President at Venrock, from January 2006 to October 2011, serving as a member or observer on the boards of Inrix, Redbeacon, and [SlideShare](https://www.edgepedia.org/slideshare); SlideShare, a US-India corridor company he worked on early, was later acquired by LinkedIn.[1](https://lsvp.com/team-member/dev-khare/) • [4](https://lsvp.com/stories/lightspeeds-bet-on-india-going-global/) • [3](https://www.linkedin.com/in/dkhare)
In 2011 he moved with his family to India to join his Harvard Business School classmate [Bejul Somaia](https://www.edgepedia.org/bejul-somaia) at Lightspeed India.[4](https://lsvp.com/stories/lightspeeds-bet-on-india-going-global/) In mid-2021 he relocated to the Bay Area while continuing to invest exclusively in India and Southeast Asia, describing his role as building a bridge for India-to-global companies.[4](https://lsvp.com/stories/lightspeeds-bet-on-india-going-global/)
## Role at Lightspeed India Partners
Since joining Lightspeed in 2011, Khare has focused on consumer and enterprise companies with low-friction, software-based models.[1](https://lsvp.com/team-member/dev-khare/) In a 2016 interview he described Lightspeed India's positioning as the first institutional investor in startups, with seed investments generally ranging from Rs 30 million–60 million (Rs 3–6 crore; $500,000–$1 million) and Series A checks of Rs 120 million–350 million (Rs 12–35 crore; $2–$5 million).[5](https://yourstory.com/2016/09/dev-khare-lightspeed-india-partners) His firm-published essay on India going global describes the India team at the time of writing as a roughly 25-person investment and business services team with offices in Bengaluru, Delhi, Mumbai, Singapore, and San Francisco, and about 75 portfolio companies from seed through post-IPO; starting in 2015 the firm raised three sets of India early-stage funds.[4](https://lsvp.com/stories/lightspeeds-bet-on-india-going-global/) His own investing has tilted toward the India-to-global corridor: his three most recent investments at the time of that essay, Pepper, Lio, and Scrut, all had a large India-to-global component.[4](https://lsvp.com/stories/lightspeeds-bet-on-india-going-global/)
## Notable investments and exits
With more than 13 years at Lightspeed, Khare has backed PhysicsWallah, Razorpay, Pocket FM, ShareChat, Darwinbox, Portkey.ai, Qure.ai, and AccelData.[2](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/) Earlier in his Lightspeed tenure, his Series B/C-stage deals included Byju's, Shuttl, and ItzCash.[5](https://yourstory.com/2016/09/dev-khare-lightspeed-india-partners)
His recent portfolio skews toward AI. He has said Lightspeed has made roughly 15–20 investments in AI-core or AI-native companies, citing Triomics (an Onco LLM company in healthcare), Qure.ai (AI radiology), and Innovaccer's AI pivot; the podcast framing describes a $500 million India bet with about one third in AI companies.[2](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/) On exits, he described an early-stage strategy of holding positions for 7 to 12 or more years with no preset exit, exiting via IPO or M&A, and often not selling at Indian IPOs; Lightspeed exited Innovaccer in 2024.[2](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/)
His self-maintained profile lists board seats at Qure.ai, Zluri, Triomics, Scrut Automation, Geniebook, Pepper Content, Yellow.ai, Acceldata, Darwinbox and [ShareChat](https://www.edgepedia.org/sharechat), and investor roles including PhysicsWallah, Pocket FM, Razorpay (since March 2022), Unstract, and Innovaccer.[3](https://www.linkedin.com/in/dkhare)
## By the numbers
- **Tenure**: more than 13 years at Lightspeed as of the podcast recording, since November 2011.[2](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/) • [3](https://www.linkedin.com/in/dkhare)
- **AI exposure**: roughly 15–20 AI-core or AI-native investments, about one third of a $500 million India bet per the podcast framing.[2](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/)
- **Cheque sizes (2016)**: seed Rs 30 million–60 million (Rs 3–6 crore; $500,000–$1 million); Series A Rs 120 million–350 million (Rs 12–35 crore; $2–$5 million).[5](https://yourstory.com/2016/09/dev-khare-lightspeed-india-partners)
- **India Ascends**: Lightspeed's deep-tech fast-track program received nearly 1,400 qualified applications and selected 12, a roughly 1% acceptance rate, per Khare.[6](https://www.financialexpress.com/business/news/ai-for-india-is-under-appreciated-dev-khare-partner-at-lightspeednbspventure/4166507/)
- **Hold strategy**: 7–12+ year holds with no preset exit, often retaining positions through Indian IPOs.[2](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/)
## Public positions and writing
Khare frames Indian startup activity in three broad areas: "nation-building", covering foundation models, defense, space, energy, energy infrastructure, and transportation systems; the emerging Indian consumer; and commerce.[7](https://www.forbesindia.com/article/leadership/it-is-easier-to-start-a-business-but-harder-to-scale-lightspeeds-dev-khare/2993742/1) In consumer and entertainment he cites ShareChat, Pocket FM, Seekho, and [Physics Wallah](https://www.edgepedia.org/physics-wallah); in commerce, Zepto, Slicck, and Snabbit.[7](https://www.forbesindia.com/article/leadership/it-is-easier-to-start-a-business-but-harder-to-scale-lightspeeds-dev-khare/2993742/1) He has argued that "AI for India" remains under-appreciated, pointing to rising founder interest in deep-tech and growing policy support.[6](https://www.financialexpress.com/business/news/ai-for-india-is-under-appreciated-dev-khare-partner-at-lightspeednbspventure/4166507/) His firm-published essay, "Lightspeed's bet on India going global", sets out his thesis that Indian founders increasingly build for global markets, and explains his mid-2021 relocation to the Bay Area to support that bridge.[4](https://lsvp.com/stories/lightspeeds-bet-on-india-going-global/)
## References
1. [Lightspeed Team: Dev Khare, Partner](https://lsvp.com/team-member/dev-khare/)
2. [Lightspeed's $500M bet on India with 1/3rd in AI Companies | Dev Khare — Neon podcast](https://neon.fund/podcasts/lightspeeds-500m-bet-on-india-with-1-3rd-in-ai-companies-dev-khare/)
3. [Dev Khare — LinkedIn profile (self-maintained)](https://www.linkedin.com/in/dkhare)
4. [Lightspeed's bet on India going global — Dev Khare (firm-published essay)](https://lsvp.com/stories/lightspeeds-bet-on-india-going-global/)
5. [Dev Khare, MD at Lightspeed India, on being the first institutional investor in startups — YourStory (2016)](https://yourstory.com/2016/09/dev-khare-lightspeed-india-partners)
6. ['AI for India is under-appreciated': Dev Khare, Partner at Lightspeed Venture — The Financial Express](https://www.financialexpress.com/business/news/ai-for-india-is-under-appreciated-dev-khare-partner-at-lightspeednbspventure/4166507/)
7. [Lightspeed's Dev Khare on AI, Indian Startups and the Next Venture Cycle — Forbes India](https://www.forbesindia.com/article/leadership/it-is-easier-to-start-a-business-but-harder-to-scale-lightspeeds-dev-khare/2993742/1)
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*Topic: Encyclopedia › Society and history › Economics and business › Founders, operators, and investors › Venture and growth investors › India and Asia-Pacific venture › Indian venture investors and funds*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026; Oct 21, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license