Lightspeed Venture Partners may invest more than $130 million in India over the next two to three years, according to partner Ravi B. Mhatre, cited by VentureWire (sub required).

He was speaking after announcing the VC fund’s first two investments into companies having primary operations in India – $22.5 million in San Francisco-based online retailer Mercantila Inc. and $7 million in TutorVista, an online education company.