Indian private equity and venture capital firm Lighthouse Advisors’ affiliate, Lighthouse India Fund III, revealed that it has injected more than 2.5 billion rupees ($35 million) to buy a minority stake in footwear manufacturer Aqualite Industries.
Aqualite Industries intends to use the funds for capacity extension, marketing and development plans.
In November, Lighthouse India Fund III had committed $22.7 million in Indian mattress manufacturer Duroflex.
In September, the fund injected $16 million in Mumbai-based cosmetic and wellness products retailer Nykaa.