Bengaluru, Feb. 29 -- Ummeed Housing Finance Pvt. Ltd has raised 164 crore in a Series D equity round led by a fund managed by Morgan Stanley Private Equity Asia.

Existing investor LGT Lightstone Aspada, the India-focused impact investment platform of LGT Lightstone, which had invested $10 million in Ummeed in 2018, also participated in the new round. Avendus Capital acted as the exclusive financial adviser to Ummeed on the transaction. Ummeed, the Gurugram-based affordable housing financier, started out in 2016. It caters to the informal and low-income segment predominantly in Tier II and Tier III towns and operates in Rajasthan, Haryana, Delhi-NCR, and Uttar Pradesh. It offers 3 lakh to 50 lakh loans for home purchases, home construction...