New Delhi : LC Nueva Investment Partners has unveiled its second project, the LC Nueva Momentum Fund, which aims to raise a total corpus size of Rs 250 crore. LC Nueva Investment Partners is a collaboration between Lighthouse Canton of Singapore and Nueva Capital of Delhi. The LC Nueva Momentum Fund concentrates on investing in 10-15 high-growth companies during the Series A, B, and growth stages. In a statement, the venture capital firm announced that the new fund's target size is Rs 150 crore (equivalent to about USD 18 million) and includes a greenshoe option of Rs 100 crore (about USD 12 million).
In 2023, LC Nueva Investment Partners successfully ended its LC Nueva Fund, raising a total of Rs 350 crore. We believe that concentrating on high-potential investments strategically will allow LC Nueva Momentum Fund to attain outstanding returns. "By actively exploring additional opportunities while utilizing the strong connections established in our previous fund, we are well-positioned to effectively navigate the current market dynamics," stated Sohil Chand, Founding Partner and CIO of LC Nueva Fund.
The company stated that even with a decrease in worldwide Venture Capital (VC) funding, India remained the second-biggest location for VC and growth funding in the Asia-Pacific area. In India, there has been a noticeable increase in portfolio secondaries, with funds now purchasing whole GP portfolios. There is a fast-paced acceleration in the trend of institutional secondary investors acquiring private secondary portfolios. During the initial six months of 2024, there was a noticeable increase in secondary stake sales, accounting for 34 percent of transactions ranging between USD 50-500 million for significant deals, according to Sanket Sinha, Global Head of Asset Management at Lighthouse Canton.
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