New fund with target corpus of Rs 150 Cr launched by LC Nueva Investment Partners
LC Nueva Investment Partners introduced the LC Nueva Momentum Fund with a target corpus of Rs 150 crore, or roughly $18 million, and an additional Rs 100 crore, or roughly $12 million, for a greenshoe option.
This comes after its initial fund successfully closed at Rs 350 crore. It was reported that half of the companies in its portfolio were able to secure additional funding rounds, resulting in an impressive CAGR of nearly 57% in average revenues.
With an emphasis on secondary market prospects and “winners” from its previous fund, the new fund will provide Series A and B funding to ten to fifteen high-growth startups.
A partnership between Lighthouse Canton in Singapore and Nueva Capital, based in the National Capital Region (NCR), LC Nueva Investment Partners seeks to invest in businesses that have demonstrated enhanced operating performance and are regarded as high-conviction investments.
By actively pursuing secondary opportunities and leveraging strong relationships from its previous fund, the Momentum Fund’s strategy focuses on identifying high-potential investments to deliver exceptional returns.
Within the wider venture capital scene, Capital A, an early-stage company, launched its Fund II with an aim of Rs 400 crore, and z21 Ventures just closed its $40 million Fund II at $20 million.
