Alternative asset management firm Anicut Capital has received the market regulator Securities Exchange Board of India’s approval to set up a Rs 1,500- crore debt fund.
It plans to launch the fund in the fourth quarter of the financial year 2022-23 and announce the first close by the end of the same quarter, the company said on November 30.
The new fund, Grand Anicut Fund 4, also has a green shoe option of Rs 500 crore. With the third debt fund, which is an AIF, Category II debt fund, Anicut Capital has successfully closed a total of five funds in years, the firm said in a statement.
“The past years have been highly encouraging with the closure of five funds overall and we are confident that our investment portfolio companies will be the leaders of tomorrow. Anicut’s ecosystem consists of equity investments in leading companies that are bound to grow multifold over time,” said Ashvin Chadha, Founding Partner of Anicut Capital.
Anicut Capital also announced that Chetan Prakash Sancheti had joined as a Partner. Sancheti has around 15 years of experience in corporate and investment banking, with domain expertise in deal origination, structured finance, and risk analysis.
He started his career with Tata Capital Ltd and has been associated with IndusInd, Yes Bank, and CredAvenue (Vivriti Group)
“Anicut Capital has had an exhilarating journey so far and is poised to witness immense growth in the coming years. I am excited to work with the ambitious team and strengthen the debt side operations across the organisation,” Sancheti said.
Founded in 2016, the AMC has invested upwards of Rs 550 crore across 15 investments through the second debt fund, and in 25 equity raise rounds across early-stage as well as growth-stage startups.
Anicut Capital has invested in multiple iconic startups such as Bira, Kaynes Technologies and Lendingkart as well as Wow! Momo, Milky Mist, Agnikul, and Sharechat.
Anicut holds 34 startups on the debt side and 55 on the equity side and manages assets worth Rs 1,600 crore.
The firm said in June it raised Rs 110 crore to acquire equity stakes in startups across sectors. This is the first close for the Rs 500-crore Anicut Opportunities Fund I. The fund were to be deployed to pick up stakes in up to 15 growth-stage companies.