Multi-asset alternative investment firm Anicut Capital has announced the closing of its first-ever late stage equity continuum fund of Rs 300 crore, taking its AUM beyond Rs 3,000 crore. The asset management firm now plans to invest in 5-6 late-stage startups that stand profitable and are gearing up for an IPO in the coming 2-4 years.
Managing partner and co-founder Ashvin Chaddha has stated that the asset management firm plans to support businesses at varying stages of growth. It has been working to raise its third credit fund worth 1,200-1,500 crore, of which, Rs 400 crore has been deployed across seven deals as of now and the rest is expected to be achieved by the end of the ongoing financial year. The closure of Rs 300 crore Anicut Equity Continuum Fund includes worth Rs 100 crore green-shoe option. “The swift closure within eight weeks, bolstered by a substantial Rs 60 crore investment from HDFC AMC, underscores strong investor confidence”, he added.
The firm’s equity growth fund had its inception in 2023 and has invested in 10 pre-series A & B companies, raising more than Rs 350 crore so far. Managing partner, co-founder IAS Balamurugan has shared that the company’s three active funds Cat II, Cat III, and an angel structure are expected to start off with investment activities shortly. “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,” he shared.
Anicut’s total assets currently amount to Rs 3000 crore, having over 120 portfolio companies, 60 of which remain startups in the seed stage.
