Multi-asset alternative investment firm Anicut Capital on Friday announced the closure of its maiden late-stage equity continuum fund of Rs 300 crore. The company said the fund will back five-six companies preparing for IPO in the next two to four years. The latest fund has taken the company’s assets under management (AUM) to over Rs 3,000 crore.
The Rs 300 crore fund size includes Rs 100 crore of green-shoe option.
Speaking on the closure of the fund, Ashvin Chaddha, Managing Partner and Co-founder, Anicut Capital said, “The swift closure (of fund) within eight weeks, bolstered by a substantial INR 60 crore investment from HDFC AMC, underscores strong investor confidence. Anicut Capital’s closure of the Anicut Equity Continuum Fund marks a significant milestone in our mission to support high-potential companies on their path to IPO.”
Established in 2015, the company manages six funds, including three debt funds and three equity funds. Anicut Capital said it is raising its third credit fund with a targetted corpus of Rs 1,200-1,500 crore.
So far, it has invested Rs 400 crore across seven deals while the entire corpus is likely to be deployed by the end of the financial year.
“Our third credit fund is progressing well, with significant deployments expected by June, reaffirming our dedication to market opportunities. Expanding on private credit and early-stage innovation, we’ve launched three active fund structures in GIFT City and demonstrated strong investment execution with $100 million deployed in the first half of 2024,” said IAS Balamurugan, Managing Partner & Co-founder, Anicut Capital.
The Ayurveda Experience, Wow! Momo, Mistral are some of Anicut Capital’s portfolio companies.
Anicut’s angel Fund started in January 2020 has invested over Rs 275 crore in more than 60 early and growth-stage startups while its Equity Growth fund, started in 2023, has raised over Rs 350 crore and invested in 10 pre-series A/B startups.