India-focused private equity firm Lighthouse Funds has reached a first close for its third fund with US$150 million in capital commitments. Investors in the fund include development finance institution IFC, which will commit up to US$45 million. The fund, which is reportedly targeting US$200 million in total commitments, will invest in India-based companies operating in consumer-focused sectors such as health care, food and beverage, personal care, building materials, consumer durables, logistics and financial services.