National Investment and Infrastructure Fund Limited (NIIF) Fund of Funds has committed to invest Rs 400 crore to Lighthouse India Fund IV AIF, Economic Times (ET) reported.
With a target size of up to Rs 3,500 crore, Lighthouse Fund IV will reportedly invest in high-growth businesses in sectors such as healthcare, specialty manufacturing, digital transformation, and consumer products and services, said NIIF in a media statement.
NIIF’s participation as an anchor investor in Lighthouse Fund IV makes it the first domestic institutional investor and is expected to help the fund catalyse further capital from high-quality domestic and global institutions, a media report stated.
Founded in 2006, Lighthouse has so far raised three private equity funds.
NIIF Fund of Funds is over 90 per cent committed across seven funds, investing in nationally significant sectors such as climate, affordable housing, healthcare and pharmaceuticals, innovation, deep technology, and manufacturing.
“We are delighted to be an anchor investor in Lighthouse India Fund IV. This investment aligns with the Fund of Funds’ approach of backing best-in-class fund managers," said Prakash Rao, executive director (ED) and chief investment officer (CIO), Indirect Investments, NIIF.
“For the past 15 years, we have partnered with some of India’s finest entrepreneurs, and this commitment is a vindication of our ability to continue delivering strong outcomes for our investors," added Sachin Bhartiya, co-founder of Lighthouse.
NIIFL manages over $4.3 billion of equity capital commitments across its three funds – Master Fund, Fund of Funds, and Strategic Opportunities Fund.
NIIF Fund of Funds (FoF) is focused on building a portfolio of private equity funds across diversified sectors and investment strategies.