Global investment firm Lighthouse Canton has announced the final closure of LC Nueva AIF, a scheme of Luminere Investment Trust, at Rs 350 crores.
The LC Nueva AIF saw investors from various categories of investors including large single-family offices and institutional clients like SIDBI.
The fund focuses on early-stage companies, typically contributing pre-Series A and Series A funding. It invests in startups with strong unit economics that have typically started generating revenue. The LC Nueva AIF focuses on health-tech, consumer-tech, fintech, and education-tech businesses and the fund has a portfolio of around 30-35 companies.
The initial size of the fund was set at Rs 300 crore, including the green shoe option.
“The fund has plans to deploy about half of the corpus in building the portfolio while the other half would be utilized for the follow-on rounds for these companies,” said Sohil Chand, founding partner and CIO of LC Nueva AIF.
In the last seven years, the AIF investments in India claims to have seen a tenfold jump, with assets under administration at nearly Rs 7 lakh crore.