(Hubbis) Sumegh Bhatia is Chief Executive Officer & Managing Director for the India arm of Lighthouse Canton, which is on a rapid expansion trail globally, with its offices in Singapore, Dubai and India. Hubbis ‘met’ with him recently to learn more of the thrust in India and where the firm sees its true competitive edge. India’s wealth management market is clearly on a roll. Buoyed by the remarkable performance of the equity market in the aftermath of the 2020 pandemic-induced sell-off, encouraging economic data, and by the growth of private wealth and the diversification of their investments. Lighthouse Canton opened in India only in 2020, with 2021 as the first full year of operation, but the progress is impressive so far, prompting them to open their second office in late 2021. Sumegh believes that the firm is well-positioned as both a local Indian EAM and also as part of an international operation to expand apace in India’s dynamic wealth market.
Sumegh first explains that the firm has two licenses, both granted by the Securities and Exchange Board of India (SEBI). One is a pure distribution license and the second is the Alternative Investment Fund (AIF) license, allowing them to invest in early stage private companies. He reports they have launched a VC fund in India, and they plan to offer...
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