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Singapore's Lighthouse Canton launches venture debt fund in India

Plans to raise as much as $135m as startups hunt for financing

Ankit Agrawal, left, is director of venture debt at Lighthouse Canton, while Sanket Sinha, right, is head of asset management. (Photo courtesy of Lighthouse Canton)

BENGALURU -- Singapore-based asset management company Lighthouse Canton on Monday said it is launching a venture debt fund in India, sharpening its focus on the South Asian nation as startups there hunt for alternative sources of capital amid a drought in equity funding.

The company announced that is looking to raise as much as 11 billion rupees ($135 million) for its maiden debt fund in India, comprising an initial target of 5.5 billion rupees and a potential overallotment of the same amount. Senior company executives separately told Nikkei Asia that Lighthouse Canton has already secured 1.5 billion rupees.

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