Lighthouse Canton announces Rs 350 crore closure of LC Nueva AIF

Investment firm Lighthouse Canton on Wednesday announced closure of LC Nueva AIF, a scheme of Luminere Investment Trust, at Rs 350 crore.

LC Nueva Alternate Investment Fund (AIF) focuses on early-stage companies operating in healthtech, consumertech, fintech, and educationtech fields.

Speaking to PTI, Lighthouse Canton India CEO & Managing Director Sumegh Bhatia said the fund has seen interest from investors from various categories of investors including large single-family offices and institutional clients like SIDBI.

"Our sweet spot is to invest in companies that are series A and at early sort of levels , the way fund was structured with an objective that 50 to 60 per cent of the money, what we would raise we will invest... build a portfolio and invest into companies," he said.

LC Nueva AIF Founding partner and CIO Sohil Chand said the fund has plans to deploy about half of the corpus in building the portfolio while the other half  would be utilised for the follow-on rounds for these companies.

In the last seven years, AIF investments in India have seen a tenfold jump, with assets under administration at nearly Rs 7 lakh crore. About 80-90 per cent of the funds raised currently come from domestic investors.