Anicut Capital raises $11 million for Private Credit Fund III via GIFT City Structure
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Fundraising Achievement: Anicut Capital has successfully raised $11 million for its Private Credit Fund III through the GIFT City structure, aimed at attracting international investments in India.
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Diverse Investor Base: The investments came from a range of institutional investors, family offices, and high-net-worth individuals (HNIs) across key global markets such as the U.S., U.K., Europe, and the Middle East.
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Focus on Mid-Sized Enterprises: The Private Credit Fund III aims to provide financing solutions to mid-sized Indian enterprises, addressing their needs for acquisitions, promoter buybacks, bridge financing, and growth capital.
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Significant Track Record: Since its inception, Anicut Capital has invested around Rs 3,200 crore ($390 million) in private credit, supporting notable companies like Milky Mist and Wow! Momo, and emphasizes its commitment to fostering innovation and growth in the Indian market.
- Expansion Plans: Anicut Capital is set to enhance its presence in GIFT City and other major Indian cities while aiming for a total corpus of Rs 1,500 crore (around $180 million) for the Private Credit Fund III.
Anicut Capital, a Chennai-based alternative asset management firm, has raised $11 million in dollar-denominated investments for its Private Credit Fund III.
The funds were raised through the GIFT City (Gujarat International Finance Tec-City) structure, which has been developed to promote international investments in India.
Who are the investors?
The funds were sourced from a diverse group of institutional investors, family offices, and high-net-worth individuals (HNIs) from key global markets, including the United States, United Kingdom, Europe, and the Middle East.
The investment was facilitated by the International Financial Services Centres Authority (IFSC), an entity designed to attract and regulate international financial services in India.
Purpose of the fund
Anicut Capital’s Private Credit Fund III is part of a larger goal to raise a total corpus of Rs 1,500 crore (approximately $180 million).
The fund aims to provide much-needed financing solutions to mid-sized enterprises in India. It will focus on offering credit for acquisitions, promoter buybacks, bridge financing, and other growth capital needs.
With the capital raised, Anicut Capital plans to bridge funding gaps for these businesses, helping them scale and expand in a competitive market.
Anicut Capital’s track record
Since its inception, Anicut Capital has deployed around Rs 3,200 crore ($390 million) in private credit across various sectors. The firm’s portfolio includes well-known companies such as Milky Mist, Wow! Momo, Bira, Blue Tokai, and Agnikul.
With these investments, Anicut has played a significant role in supporting businesses poised for growth, fostering innovation and development in the Indian market.
According to Ashvin Chadha, Managing Partner at Anicut Capital, the funds raised via the GIFT City structure reflect global investors’ growing confidence in the firm’s ability to deliver customized credit solutions for mid-market companies.
GIFT City and future plans
GIFT City has emerged as a key hub for international financial services in India, and the successful capital raise through this structure reinforces its role in facilitating cross-border investments. Anicut Capital’s continued focus on raising funds through GIFT City for its Private Credit Fund III aligns with its broader strategy of supporting high-potential businesses in India.
The firm is also expanding its presence in GIFT City and its footprint across major Indian cities, including Delhi, Chennai, and Bengaluru.
Anicut Capital has a total active AUM (Assets Under Management) of Rs 3,500 crore.
Sure! Here’s a summary based on the information provided:
Funds:
- Fund Name: Private Credit Fund III
- Total Funds Raised: $11 million (part of a larger goal of Rs 1,500 crore or approximately $180 million)
Investors:
- Types of Investors:
- Institutional investors
- Family offices
- High-net-worth individuals (HNIs)
- Key Markets:
- United States
- United Kingdom
- Europe
- Middle East
Startup:
- Firm Name: Anicut Capital
- Location: Chennai, India
Founders:
- Not specifically mentioned in the provided text. However, it mentions a representative:
- Ashvin Chadha – Managing Partner at Anicut Capital
Fundraise Series:
- Series Type: Private Credit Fund
Additional Information:
- Investment Facilitation: International Financial Services Centres Authority (IFSC)
- Aim of the Fund: To provide financing solutions to mid-sized enterprises in India, focusing on acquisitions, promoter buybacks, bridge financing, and growth capital needs.
- Track Record: Invested approximately Rs 3,200 crore ($390 million) across various sectors, supporting companies such as Milky Mist, Wow! Momo, Bira, Blue Tokai, and Agnikul.
- Total Active AUM (Assets Under Management): Rs 3,500 crore.
Feel free to ask if you need more details or further clarification!