India-focused private equity fund manager Lighthouse Funds has held a first close on its second fund, India 2020 Fund II, with approximately US$60 million in commitments. Lighthouse reportedly received re-ups from all major institutional investors in its first fund, which raised US$100 million in 2008. Fund II has a final target size of US$125 million, and intends to invest US$5 million to US$15 million for minority positions in low- to mid-market Indian companies.