Anicut Capital Closes Rs 300 Cr Equity Continuum Fund
Jul 12, 2024 20:34
Anicut Capital has closed its maiden late-stage Equity Continuum fund of Rs 300 crore, aimed at supporting high-potential companies preparing for an IPO. The fund has attracted strong investor interest, including a significant investment from HDFC AMC.
New Delhi, Jul 12 (PTI) Venture Capital firm Anicut Capital on Friday announced the closure of its maiden late-stage Equity Continuum fund of Rs 300 crore.
The fund is meant to support high-potential companies preparing for an IPO within the next 2-4 years, Anicut Capital said in a statement.
"We are excited about the successful closure of the Rs 300 crore (includes Rs 100 crore green shoe option) Anicut Equity Continuum Fund and the strong investor interest it has attracted. The swift closure within eight weeks, bolstered by a substantial Rs 60 crore investment from HDFC AMC, underscores strong investor confidence," Anicut Capital Managing Partner and co-founder Ashvin Chaddha said.
With this closure, Anicut Capital's total assets under management have surpassed Rs 3,000 crore across all its funds, the statement said.
"Anicut Capital's closure of the Anicut Equity Continuum Fund marks a significant milestone in our mission to support high-potential companies on their path to IPO," Chadha said.
The fund will invest in a carefully curated list of 5-6 companies that have demonstrated significant scalability, profitability, and IPO readiness.
Anicut Capital is also raising its third credit fund, aiming for a corpus of Rs 1,200-1,500 crore.
To date, It has invested Rs 400 crore across seven deals, with the entire corpus expected to be deployed by the end of the financial year.
"Our third credit fund is progressing well, with significant deployments expected by June, reaffirming our dedication to market opportunities. Expanding on private credit and early-stage innovation, we've launched three active fund structures in GIFT City and demonstrated strong investment execution with USD 100 million deployed in the first half of 2024," Anicut Capital Managing Partner and co-founder IAS Balamurugan said.
Anicut Capital's Angel Fund started in January 2020, has invested over Rs 275 crore in over 60 early and growth-stage startups.
The firm's Equity Growth Fund started in 2023, has raised over Rs 350 crore and invested in 10 early start-ups at early stages.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.