To strengthen the economic role of women in India, Proparco supports Lighthouse Funds

published on 21 February 2024
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Proparco invests USD $15 million in private equity in Lighthouse India Fund IV AIF (Fund India), an India’s leading growth-stage private equity firm which applies the 2X Challenge criteria to its portfolio companies and its own structure, with 1/3 of its senior managers being women (100% 2X Challenge).

On January 26th, Prime Minister Narendra Modi welcomed President Macron in New Delhi and Jaipur as the guest of honor at India’s Republic Day, highlighting the close relationship between France and India. On this occasion, the new partnership between Proparco and Lighthouse Funds was signed. 

To strengthen its gender impact in India, Proparco has committed USD $15 million to the fund. Proparco will be the first investor to sign a memorandum of understanding with Lighthouse, confirming its alignment with the principles of the 2X Challenge. The 2X Challenge initiative, launched by the G7 development finance institutions, aims to mobilise USD $15 billion for investments in the world’s women.

Lighthouse is the first company to bring a source of growth capital to already established businesses, in a context of exponential growth in consumption on the Indian market. Founded in 2007 by Sachin Barthiya, Sean Sovak and Mukund Krishnaswami, Lighthouse has been active in India for over 15 years. Since its inception, Lighthouse has raised over USD $430 million in its first three funds: Lighthouse I, deployed in eleven investments, Lighthouse II (nine investments), and Lighthouse III (nine investments).

Lighthouse's ambition is to increase its investment in the healthcare sector to 40% of total Fund IV investments. In order to achieve this goal, Fund IV will build on the successful experience of Fund III and is in the process of hiring a new operational advisor specializing in the healthcare sector.

Proparco's support for the Lighthouse, aligns with its 2023-2027 strategy which includes ambitious impact goals, particularly in fighting inequality for a fairer and more sustainable world.

"Proparco is very proud to be part of Lighthouse's ambition to increase its investment in the healthcare sector. We are delighted to help the Lighthouse team in India strengthen its gender impact strategy" said Françoise Lombard, Chief Executive Officer of Proparco, during the meeting in Mumbai with the leaders of the Lighthouse Funds, shortly after the visit of the President Macron in India.

Lighthouse has partnered with WinPE (Women in Private Equity), an Indian association that promotes gender equality in the private equity sector, to establish internal gender KPIs. Rochelle Dsouza and Anshul Jain are ambassadors of this association. Proparco is also a member of WinPE since 2023. Otherwise, Tynor Orthotic (Fund III) another Lighthouse’s partner, has set up a “zero tolerance” policy against sexual harassment. It also actively seeks to promote women at management level and offers a free childcare facility.

In addition to gender equality (SDG n°5), this project contributes to four other SDGs: SDG n°1 (No Poverty), SDG n°3 (Good Health and Well-being), SDG n°8 (Decent Work and Economic Growth), SDG n°10 (Reduced Inequalities). In terms of impacts, 3,375 jobs have been created and/or maintained within the customer and its value chain.


Media Contact: Galla Belaïsch /

About Proparco
Proparco, a subsidiary of Agence Française de Développement Group, has been working with the private sector for over 45 years for a more just and sustainable world. With an international network of 23 local offices, Proparco works closely with its partners to build sustainable solutions in response to environmental and social challenges in Africa, the Middle East, Asia and Latin America. Proparco benefits from sector-based expertise as well as a wide range of financial solutions tailored to the different stages of business development, notably thanks to its Digital Africa subsidiary, and its Propulse technical assistance offering designed to scale up the impacts and performance of its partners.

Proparco's new "Acting together for greater impact” Strategy 2023-2027 enables, strengthens and amplifies the different ways in which it works with its partners. To learn more:

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