SUMMARY
- Anicut Capital has raised $11 million for its Private Credit Fund 3 through GIFT City Structure, targeting international investors.
- The firm secured Rs 50 crore from SIDBI for its Anicut Equity Fund in September 2023.
- The funds are part of a larger goal to raise Rs 1,500 crore for the third private credit fund.
Anicut Capital, an alternative investment firm, has successfully raised $11 million in dollar-denominated investments through the GIFT City Structure for its Private Credit Fund 3. This funding marks a significant step in attracting international capital to India, targeting a diverse range of institutional investors, family offices, and high-net-worth individuals (HNIs) from key global markets, including the US, UK, Europe, and the Middle East.
The GIFT City Structure allows Anicut to raise funds in the International Financial Services Centres Authority (IFSC), a statutory authority established by the Government of India to facilitate international investments. This initiative aims to bolster the flow of dollar-denominated investments into India, enhancing the firm’s ability to support promising ventures within the country.
In September 2023, Anicut Capital also secured an investment of Rs 50 crore from the Small Industries Development Bank of India (SIDBI) for its Anicut Equity Fund. Within the first year of its operations, Private Credit Fund 3 has already made investments in six companies, including Earth Rhythm, Neemans, Wheelocity, The Ayurveda Experience, Blue Tokai Coffee, and XYXX.
The funds raised through this latest investment round contribute to the overall corpus of Rs 1,500 crore that Anicut Capital is currently working to secure for its third private credit fund. Since its inception, Anicut claims to have deployed Rs 3,200 crore in private credit across mid-sized enterprises.
