Alternative investment firm Anicut Capital announced that it has received funding commitment of over $9 million from Self Reliant India (SRI) Fund under its ‘Grand Anicut Fund 3’ equity fund.
In June 2022, the Chennai-based company launched the Rs 500 crore Grand Anicut Fund 3, also called the Anicut Opportunities Fund. With a green shoe option of Rs 250 crore, it plans to invest in 10 to 15 growth-stage companies working in tech consumer and business to business (B2B) sectors.
The company said in media statement that the fund has already made five investments and is actively involved two other deals, which are expected to close by the next quarter.
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“We firmly believe that our investment portfolio companies will be leaders of tomorrow and grow multifold with persistent support and commitment. The commitment from SRI Fund furthers our agenda of strengthening small and medium enterprises across India,” said Dhruv Kapoor, partner of Anicut Capital.
The company earlier announced that its Rs 1,500 crore third debt fund, Grand Anicut Fund 4, has received the Securities and Exchanges Bureau of India’s (SEBI) approval. The fund has a greenshoe option of Rs 500 crore and is expected to be launched in the fourth quarter of the current financial year (FY 2023).
The Grand Anicut Fund offers a range of financial solutions to institutions in the form of debt and equity. It focuses on Indian companies with a defined exit in sectors other than infrastructure, real estate, and media.
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SRI Fund is a SEBI-registered category II alternative investment fund supported by NSIC venture capital, a subsidiary of The National Small Industries Corporation Limited (NSIC), and is managed by SBICAP Ventures.
Anicut Capital presently manages two debt funds — GAF-1 and GAF-2, Anicut Angel Fund and Grand Anicut Fund 3 with Assets under Management (AUM) of Rs 1,600 crore.
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