Alternative asset management company Anicut Capital on Monday announced an $11 million capital infusion via GIFT City Structure in its Private Credit Fund 3. The company said the investment structure aims at attracting dollar-denominated investments into India from a group of institutional investors, family offices, and high-net-worth individuals (HNIs) from global markets including the US, UK, Europe, and the Middle East.
The funds are raised in the International Financial Services Centres Authority (IFSC), a statutory authority established by the Government of India to facilitate international investments.
Anicut said in private credit it aims to bridge the gap in funding for requirements such as acquisitions, promoter buybacks, bridge financing and other growth capital requirements.
The funds raised via GIFT City Structure add to the overall corpus of Rs 1,500 crore that the company is currently raising for its third private credit fund. In private credit, Anicut has invested Rs 3,200 crore so far in mid-sized enterprises since inception.
Speaking on the fundraise, Ashvin Chadha, Managing Partner at Anicut Capital said the funds received via GIFT City structure highlight the confidence global investors have in Anicut.
“We are committed to delivering strong returns by offering customized credit solutions for mid-market companies, leveraging our industry expertise to create value for both investors and businesses,” said Chadha.
Anicut currently manages six funds including including three debt funds and three equity funds with a total active AUM (assets under management) of Rs 3,500 crores. Its portfolio companies include The Ayurveda Experience, Wow! Momo, Bira, Blue Tokai, XYXX, Neemans, Agnikul, etc.