Accelerating Growth for Our Innovative Portfolio Winners
about LC Nueva MOmentum Fund*
Following the successful closure of LC Nueva Fund at INR 350 Cr in 2023, the LC Nueva Momentum Fund has been launched as a follow up Fund. With a target of INR 150 Cr and a Greenshoe option of INR 100Cr, this Fund will primarily focus on emerging winners from LC Nueva Fund, supporting and nurturing the growth its most promising investments. Additionally, the Fund will leverage existing portfolio relationships to explore adjacent opportunities and capitalize on secondaries to invest in promising new ventures. While majority of the capital will be allocated to winners, adjacent opportunities, and secondaries, The Fund will also seek out new opportunistic investments.
*Registered name of the fund is LC Nueva Momentum Fund 1, a scheme of Luminere Investment Trust, a Category II AIF
The Fund invests in winners from our portfolio, typically series A or B and Early/Growth Stage companies in India. These are strategically positioned for sustained growth, offering significant return potential with minimized risk.
Leveraging robust relationships within the fund's existing portfolio to secure advantageous deals, enriching deal flow and strategies with emerging trend insights.
Assessing investments in promising secondary opportunities within new companies, aiming to seize advantageous prospects.
Investments team led by Sohil Chand (ex-India head of Norwest Venture Partners) with long-standing track record of identifying future winners early.
The investment manager, LC Nueva Investment Partners LLP, is a partnership between Singapore based Lighthouse Canton and Delhi based Nueva Capital.
The Fund aims to leverage its focus on successful investments from the LC Nueva Fund, adjacent opportunities, and secondary market transactions to capitalize on current market conditions. Despite a slowdown in Venture Capital (VC) funding, India remains the second-largest VC destination in Asia-Pacific. Notably, the secondary market has seen significant growth, driven by declining valuations and a pressing need for liquidity. Over the past five years, private secondary transactions have facilitated approximately US$7.7 billion in exits, in some cases surpassing the volume of IPOs and block trades. In addition to institutional investors, high-net-worth individuals (HNIs) are increasingly participating in these transactions, though typically on a smaller scale. As traditional exit routes become limited, venture capital funds are increasingly resorting to secondary markets to divest their stakes, frequently at significant discounts.
The LC Nueva Momentum Fund employs three strategies:
Our strengths lie in both raising capital and managing it. As a founder-led company, we understand the journey an entrepreneur takes. Startups need the right skills, guidance, management discipline, and structure to sail smoothly amid growth opportunities and unpredictable challenges. We work with founders with capital across their business lifecycle, from early years to scale until post divestment. We bundle together all the elements of startup development and bridge the gap from ideas to outcomes, to walk with them through the complete journey from venture to wealth management.
Focusing on the needs of upcoming startups and their Founders and providing a virtuous circle of opportunities addressing the complete lifecycle of startups and their founders.
Founding Partner & Chief Investment Officer, LC Nueva AIF
Sohil is a veteran private equity fund manager, most recently as the India head of Norwest Venture Partners, a USD 10bn global early to late-stage venture and growth equity investor. Prior to this, Sohil helped to set up and led Goldman Sachs's private equity investments in India. Sohil has sizeable deal experience with key investments in National Stock Exchange, Swiggy, Asian Genco, Sadbhav Engineering, Thyrocare, Snowman Logistics, IL&FS Infrastructure, etc. Sohil holds an MBA from University of Chicago Booth School of Business and M.Sc. in Finance from London School of Economics.
Founding Partner, LC Nueva AIF
Ashish is an experienced leader with long-term success in operating and investing. He currently manages investing for his family offices with key wins in recent times including Veeba, Roadzen and Biryani by Kilo. Ashish's previous experience was building a contact center business from scratch and selling it to iGate. He also helped IT&T merge with US-based design firm Asix to form Asix IT&T, which was later acquired by Jupiter Capital. Ashish holds an M.Sc. in Information System from London School of Economics.
Nueva Capital is an Investment Holding Company with USD$100Mn under management in private and public markets. Nueva was founded by two brothers, Ashish and Sohil Chand having extensive experience in Venture Capital and Private Equity, who decided to join forces to manage their own capital and to pursue their passion for investing in early stage private businesses
