India’s Lighthouse in talks to raise $400m fund

MUMBAI, July 29: India's Lighthouse Funds is in talks to raise $400 million for a new fund, a senior executive told Reuters, in what will be the biggest fundraising by the private equity firm that is targeting fast-growing consumer brands in the country. Lighthouse has raised more than $450 million over the years and has invested in Indian companies that include popular online beauty retailer Nykaa and ethnic apparel and home accessories brand Fabindia. Lighthouse is in talks with potential investors to raise its fourth fund, a partner at the private equity fund, Mukund Krishnaswami, told Reuters in an email. The latest fund will be Lighthouse's largest so far, after its first $100 million fundraising in 2009, followed by $135 million and $230 million in two funds in 2015 and 2019, respectively.

— Reuters