LC Nueva Launches INR 250 Cr Momentum Fund to Boost Growth-Stage Investments in Series A and B Companies The fund aims to support 10-15 companies at the Series A and B stages, marking a focused push into growth-stage investments.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
LC Nueva Investment Partners, a collaboration between Singapore-based Lighthouse Canton and Delhi's Nueva Capital, has unveiled its latest venture capital initiative, the LC Nueva Momentum Fund.
With a target size of INR 150 crore and an additional greenshoe option of INR 100 crore, this fund is set to raise a total of INR 250 crore. The fund aims to support 10-15 companies at the Series A and B stages, marking a focused push into growth-stage investments.
This new fund follows the success of the LC Nueva Fund, launched in 2023 with a size of INR 350 crore. As per the official statements, the earlier fund has demonstrated strong performance, with over half its portfolio companies achieving up rounds and an average revenue growth rate of approximately 57% CAGR.
Building on this momentum, the LC Nueva Momentum Fund will reinvest in existing profitable portfolio companies, explore adjacent opportunities, and pursue investments in India's expanding secondary market.
"By actively pursuing secondary opportunities and leveraging the strong relationships built through our previous fund, we are well-positioned to navigate the evolving market dynamics," said Sohil Chand, Founding Partner and CIO of LC Nueva Fund. The secondary market has gained significant traction in India, driven by declining valuations and increased liquidity demands, making it a key area for investment.
Sanket Sinha, Global Head of Asset Management at Lighthouse Canton, highlighted the global and local growth of secondary funds, noting that "in the first half of 2024, secondary stake sales accounted for 34% of transactions in the USD 50-500 million range in India."
Lighthouse Canton is an international asset and wealth management company that will handle assets valued at more than USD 3.7 billion on June 30, 2024. Established by Ashish and Sohil Chand, Nueva Capital is a holding company for investments that oversees USD 100 million in both public and private markets.
