Aqualite Industries will use the funds for capacity expansion and growth, the footwear maker’s founder Davinder Gupta says. : Mumbai: Lighthouse Funds has invested ₹250 crore ($35 million) from its third fund to acquire a minority stake in footwear-maker Aqualite Industries Pvt. Ltd, the consumer-focused private equity firm said on Tuesday. The footwear maker will use the funds for capacity expansion and growth, Aqualite founder Davinder Gupta said in a statement. The company is expecting a turnover of ₹800 crore in the current financial year.