LC Nueva Investment Partners launches the LC Nueva Momentum Fund with a target corpus of Rs 150 crore ($18 million) and an additional greenshoe option of Rs 100 crore ($12 million).
The fund aims to support 10-15 startups at the Series A and B stages and will focus on reinvesting in startups that have demonstrated growth and improved operational performance.
LC Nueva Momentum Fund will explore adjacent market opportunities and secondary market investments, with a particular focus on the Indian secondary market.
The trend of institutional secondary investors purchasing private secondary portfolios is accelerating rapidly in India, with a significant rise in portfolio secondaries observed.