Lighthouse plans to raise $400 million fund to back consumer space startups: Report
Lighthouse Funds, private equity (PE) firm, is allegedly in talks to raise $400 million for a new fund that will target fast-growing consumer brands in the country. Lighthouse’s founding partner Mukund Krishnaswami told news agency Reuters that the company is in discussions with potential investors to raise its fourth fund.
Krishnaswami stated, “We are witnessing good interest and are hopeful that the robustness of the portfolio and success of Funds II and III are good tailwinds for these discussions.” The next fund, according to the source, would be Lighthouse’s biggest national fundraising effort.
The fund is anticipated to close later this year, according to a source acquainted with the development and speaking to the news agency. The insider also mentioned that some current investors will expand their exposure to the future fund and that there would also be new investors joining the fund.
A number of high-profile investments made by Lighthouse are mentioned online beauty retailer Nykaa, the ethnic clothing line FabIndia, and the footwear company Aqualite, among others. The firm will probably try to make investments in the recently booming consumer sector.
Lighthouse Funds, a US-based company founded in 2001, began investing aggressively in the Indian startup ecosystem in 2008. In 2009, it raised $100 million for investments in India. In 2015, it raised an additional $135 million. It closed its last $230 million fund in 2019, with help from organisations like the German investment group DEG, the CDC Group of the UK, and the International Finance Corp. of the World Bank.
Lighthouse seems to be an intriguing startup with inspiring development on financial services platform. I’m certain this startup would keep on thriving in its excursion ahead. All the best to the whole group. This will give them an enormous achievement in the future.Shishir Gupta, Founder and CEO, StartupLanes
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