The Luminere Investment Trust scheme LC Nueva AIF has been closed at a cost of Rs 350 crores, according to a statement from the international investment firm Lighthouse Canton.
Investors from a variety of categories, including institutional clients like SIDBI and sizable single-family offices, participated in the LC Nueva AIF.
The fund primarily provides pre-Series A and Series A funding, with an emphasis on early-stage businesses. It makes investments in businesses that have started to turn a profit and have good unit economics. The LC Nueva AIF has a portfolio of about thirty to thirty-five companies, with a focus on fintech, health-tech, consumer-tech, and education-tech companies.
The fund’s original cap, which included the green shoe option, was set at Rs 300 crore.
“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.
The assets under administration of the AIF investments in India are said to have increased tenfold over the last seven years, to almost Rs 7 lakh crore.
