Lighthouse Funds, a growth-stage private equity firm in India, has invested Rs 700 crore ($84 million) in Parsons Nutritionals Pvt Ltd, a local contract manufacturer of packaged food and beverages.

The funding round also saw participation from the International Finance Corporation (IFC), a member of the World Bank Group, Evolvence India, HDFC AMC’s Fund of Funds, and family offices.

Founded in 2002, Parsons manufactures items such as cookies, biscuits, chocolates & confectionery, malted beverages, and ready-drink mixes. It has recently forayed into manufacturing personal care categories such as shampoos and soaps. Some of its customers include Mondelez India, Britannia Industries, Patanjali Ayurved, and General Mills.

From its first-ever external funding from a private equity investor, Parsons plans to extend its manufacturing capabilities in existing and newer product categories.

“Leveraging their extensive network and experience in the consumer space, we envision significantly expanding our presence in India and across global markets, ” Parsons Nutritionals CEO Swapandeep Mann said.

“On the back of strong tailwinds in the Indian manufacturing sector, we’re focused on doubling down on our capabilities and replicating the deep partnerships with many more premier brands,” Mann added.

The FMCG and beauty and personal care (BPC) space have been big focus segments for Lighthouse. The firm has invested in companies like Unibic, Bikaji and Wow! Momo in the FMCG space, and Kama Ayurveda and Nykaa in the BPC space. The firm has been investing in India since 2007 and has backed over 30 companies across consumer and healthcare brands.

Last month, DealStreetAsia reported that Lighthouse Funds had roped in limited partners (LPs) from the domestic market for a time since its inception in 2007 as it gears up to raise its Rs 3,500 crore (over $400 million) fourth investment vehicle.