Lighthouse canton concludes LC Nueva AIF fundraising with a total corpus of Rs 350 Crore

Investment firm Lighthouse Canton has officially closed the LC Nueva Alternate Investment Fund (AIF), a venture under Luminere Investment Trust, securing a substantial corpus of Rs 350 crore.

The LC Nueva AIF specializes in supporting early-stage companies within the realms of healthtech, consumertech, fintech, and educationtech.

Sumegh Bhatia, CEO & Managing Director of Lighthouse Canton India, shared stated that the fund garnered interest from a diverse range of investors, including significant single-family offices and esteemed institutional clients like SIDBI.

Bhatia emphasized the fund's strategic focus on investing in series A and early-stage companies, outlining that approximately 50 to 60 percent of the raised capital would be actively invested to build a robust portfolio of promising ventures.

Sohil Chand, Founding Partner and CIO of LC Nueva AIF, disclosed plans to deploy half of the fund's corpus to construct the portfolio, while the remaining half would be dedicated to supporting subsequent funding rounds for these selected companies.

With AIF investments in India experiencing a tenfold surge in the last seven years, accumulating assets under administration nearing Rs 7 lakh crore, the success of LC Nueva AIF reflects the growing confidence and participation of domestic investors, contributing to 80-90 percent of the current funds raised in the country.

(With inputs from PTI)