Chennai-headquartered Anicut Capital has secured an investment of ₹50 crore from the Small Industries Development Bank of India (SIDBI) for the Anicut Equity Fund. The investment comes through the Fund of Funds for Start-ups (FFS), launched under the Startup India Initiative by the Government of India. The strategic move is aimed at boosting the early growth-stage companies that are a part of Anicut’s Equity portfolio.
Anicut Equity Fund launched its Grand Anicut Fund 3 in June 2022 with a targeted corpus of ₹500 crore, with an additional ₹250 crore green shoe option. The investment firm has closed two-thirds of the fund and has received a commitment of ₹75 crore from Self Reliant India Fund (SRI).
Within the first year of operations, the fund has invested in six companies, including Earth Rhythm, Neemans, Wheelocity, The Ayurveda Experience, Blue Tokai Coffee and XYXX. With a focus on Consumer and Technology sectors, the fund aims at investing in 12-14 early growth-stage companies (Series A and B) across Anicut and non-Anicut portfolios over the next 18 to 24 months.
