Anicut Capital, an investment management firm, announced on Tuesday that it had raised Rs 110 crore to acquire equity holdings in startups across a variety of industries. The Rs 500-crore Anicut Opportunities Fund I has reached its first closure. According to an official announcement, the fund would be used to invest in up to 15 growth stage enterprises.
It also stated there is a Rs 250-crore greenshoe option for the newly launched fund, without divulging the details of the Rs 110-crore commitments.
The firm also announced the appointment of Dhruv Kapoor as a partner who will be in charge of driving growth through equity investments.
The ten-year-old firm, which takes both venture debt and equity bets and has a portfolio of 72 startups, said the newly raised money will be deployed in both its existing investee companies and new ones.
Its past investments include companies like Aptus, Fivestar, Box8, Bira, Lendingkart, Wow! Momo, and Loginext.
“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,” its founding partner Ashvin Chadha said.
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