Indian investment management firm Lighthouse Funds has raised 1600 crore rupees ($230 million) for its third fund, Lighthouse India Fund III.
Backers in the fund include International Finance Corp., CDC Group, German Investment and Development Corp., as well as endowments, pension funds and family offices.
Lighthouse, which with the latest funding has reached about $500 million in assets under management, is planning to invest between $7 million and $43 million in the new fund.
With the new capital raised, the new fund will back companies with operational enhancement, marketing and sales optimization, mergers and acquisitions, and human capital enhancement.