Mid-market private equity firm Lighthouse Funds has elevated nearly half a dozen long-serving executives.
The Mumbai-based firm said Thursday it has promoted Rochelle D’souza and Anshul Jain to managing directors from principals.
D’souza, an alumnus of SP Jain Institute of Management and Research, has been with Lighthouse Funds for nearly nine years in various roles. Prior to joining Lighthouse, she worked for SBI Capital Markets as an investment banker.
Jain, an alumnus of the Indian Institute of Management-Indore, has been with the firm for nearly four years. She previously worked for nearly seven years at ICICI Securities as an investment banker covering consumer, food and agriculture sectors. She also had stints at ABN Amro’s investment banking unit and Morgan Stanley.
Lighthouse, which is focused on growth investments in India’s consumer sector, also promoted Vivek Kumar to principal from vice president.
Kumar, an alumnus of IIM Calcutta, has been with Lighthouse for nearly five years. In his previous stint, he worked in the investment banking division of Edelweiss Financial Services focused on mid-sized Indian corporations in the consumer and healthcare sectors.
Lighthouse was founded in 2006 by Sachin Bhartiya, Sean Sovak and Mukund Krishnaswami. It has a team of nearly two dozen professionals including operating advisers. The firm says it provides growth capital to middle-market companies that can benefit from growing consumption in India’s economy.
The PE firm’s portfolio comprises consumer-centric brands such as Nykaa, Bikaji Foods, WOW! Momo, Kama Ayurveda, Cera Sanitaryware, FabIndia and V2 Retail among two dozen investments. It is also invested in orthotics brand Tynor, footwear company Aqualite, and mattress brand Duroflex.
In mid-2019, the firm marked the final close of its third fund — the Lighthouse India Fund III – at $230 million against a target corpus of $200 million. The fund received commitments from International Finance Corporation (IFC), the World Bank’s private investment arm, as well as Britain’s CDC Group Plc and Germany’s DEG.
The firm raised $100 million in corpus for its first fund in 2008 and $135 million for its second investment vehicle in 2014.