Light­house Funds aims to dou­ble AUM to $500 m

The Hindu Business Line - - FRONT PAGE - BINDU D MENON

In­dia-fo­cussed Light­house Fund said it is look­ing to dou­ble its as­sets un­der man­age­ment to $500 mil­lion from $235 mil­lion in 12 to 18 months. The com­pany which in­vests in con­sumer-fac­ing firms said real es­tate an­cil­lary ver­ti­cals is an area of op­por­tu­nity for fund­ing.

Light­house Funds has so far made in­vest­ments into 17 com­pa­nies since it raised its first round of fund­ing in 2009.

“We typ­i­cally make in­vest­ments in con­sumer-fac­ing com­pa­nies with growth po­ten­tial. We in­vest up to ₹100 crore in each of these en­ti­ties and help them in grow­ing the busi­ness,” Sachin Bhar­tiya, Part­ner, Light­house Fund, told Busi­nessLine.

He said the com­pany has re­turned 1.7x of the in­vested cap­i­tal to its in­vestors.

Bhar­tiya said the com­pany is in the process of rais­ing its third round of fund­ing. “We are look­ing to raise about $200 mil­lion. We should be able to close the fundrais­ing in about 10 to 12 months,” he added.

Light­house launched its first In­dia-fo­cussed in­vest­ment ve­hi­cle — In­dia 2020, Lim­ited (“Fund I”) — with a cor­pus of ap­prox­i­mately $100 mil­lion in 2008. This was fol­lowed by the $135-mil­lion In­dia 2020 Fund II, Lim­ited in 2015. This fund also had com­mit­ment from the US govern­ment’s de­vel­op­ment fi­nance in­sti­tu­tion Over­seas Pri­vate In­vest­ment Cor­po­ra­tion. From the sec­ond fund, Light­house has made six in­vest­ments till date.

Light­house Funds has in­vested in Bikaji Snack, WowMo­mos, Dhanuka Agritech, eth­nic ap­parel firm FabIn­dia and Kama Ayurveda, bis­cuit maker Unibic Foods, lam­i­nate man­u­fac­tur­ing firm Sty­lam and san­i­tary­ware maker Cera, among oth­ers.

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