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Impact investor Lok Capital deploys 60% of Fund III
Impact investor Lok Capital, which is looking to close its Fund III at $90-100 million in the next three to four months has already deployed about 60% of the capital raised so far in the first 18 months of the fund.
“So far about $50 million has been made in terms of commitments or deployments in new companies and follow-on investments,” said Vishal Mehta, co-founder at Lok Capital. Given the current rate of deployment, Lok Capital will start raising its next fund my the mid of next year as per Mehta.
The investment firm, which has already received commitments of $80 million from LPs for its third fund, is targeting a total of 14 to 15 investments from Fund III and will invest in five to seven more companies by the end of next year in areas such as financial services, agri-businesses and healthcare.
Some of the investments from the third fund this year include $5.6 million in Delhi-based affordable housing finance company Ummeed Housing Finance along with Duane Park and in the $10-million round of Chennai-based Diabetes Care provider Dr Mohan Diabetes Specialities Care. Also last year in November, Lok Capital along with Aavishkaar had invested Rs 45 crore in Jharkhand-based dairy brand Osam.
The fund attributes one of the reasons behind fast deployments to an increase in its investment ticket size.