Self-Reliant India Fund Backs Anicut Capital With Its Commitment Of INR 75 Crore For Equity Fund The investment firm is aiming to deploy the raised funding across 10-15 growth-stage companies across Anicut and non-Anicut portfolios over a span of two years
By Teena Jose
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Anicut Capital, an Indian investment firm managing alternative assets, today announced that they have received a commitment of INR 75 crore from Self Reliant India Fund (SRI), for their equity fund. SRI Fund is a SEBI-registered Category II Alternative Investment Fund anchored by NSIC Venture Capital Fund Limited, a wholly-owned subsidiary of The National Small Industries Corporation Limited (NSIC) and managed by SBICAP Ventures Ltd (SVL), a step-down subsidiary of State Bank of India. The corpus received shall be deployed through Grand Anicut Fund 3 which was launched recently in June 2022.
"Anicut has made a number of equity investments in leading companies that are doing well in the market today. We firmly believe that our investment portfolio companies will be leaders of tomorrow and grow multi-fold with persistent support and commitment. The commitment from SRI Fund furthers our agenda of strengthening small and medium enterprises across India. Additionally, we are also excited to welcome Arun Thathachari to our leadership team. Arun's induction is a strategic move to propel our continued focus to scale the business and fuel our growth in the market," said Dhruv Kapoor, partner, Anicut Capital.
Anicut launched their Grand Anicut Fund 3 (also called Anicut Opportunities Fund) worth INR 500 crore in June 2022, which has an additional INR 250 crore green shoe option. The investment firm is aiming to deploy the raised funding across 10-15 growth-stage companies across Anicut and non-Anicut portfolios over a span of two years. It is a sector-agnostic fund with a focus on Technology, Consumer and B2B brands. Within 6 months of launching the Grand Anicut Fund 3, Anicut has already made 5 investments and 2 other deals are in active discussion, to be closed by next quarteR. To further strengthen its standing, Anicut Capital also announced the on boarding of Arun Thathachari as executive director operating on the equity side, according to a statement by the company.
"I'm excited to be a part of such a future-ready and forward-looking enterprise. I look forward to enriching my experience and harnessing my expertise to further the mission and vision of Anicut Capital," said Arun Thathachari.
Anicut Capital is a multi-asset financial institution with offerings in debt and equity. Anicut currently manages two debt funds (GAF-1 and GAF-2), Anicut Angel Fund and Grand Anicut Fund 3.
