Anicut Capital, an Indian investment firm managing alternative assets, has announced the first close of ₹500 crore Anicut Opportunities Fund I. The first close corpus stands at ₹110 crore.
The investment firm is aiming at deploying the raised funding across 10 to 15 growth stage companies across Anicut and non-Anicut portfolios over a span of two years. The split of the funds for deployment will be a combination of ecosystem and external (non-Anicut portfolio) deals.
To fund promising start-ups
Anicut Capital aims to extend the funding at series A and series B stages across sectors to the promising startups that are primed for growth.
Ashvin Chadha, Founding Partner, Anicut Capital, said, “our understanding is that massive compounding of returns is yet to happen and we are sitting on early equity positions with tomorrow’s market leaders. We firmly believe that once invested, we prefer to exit along with the founders.”
This equity focussed corpus underscores the fund’s strategy to fuel growth across India’s sunrise sectors and portends Anicut’s intent to diversify their investment strategy to ensure continued growth for their LPs (limited partner) and the start-up ecosystem, said the firm.
Dhruv Kapoor joins as partner
Anicut has also announced the joining of Dhruv Kapoor as a partner. The appointment comes on the back of Anicut’s continued focus to scale the business and full funnel growth. Kapoor will be in charge of driving growth for the equity portfolio for the fund and will bring his acumen in high growth industries to the fore in order to power up Anicut’s already thriving investment roadmap.