Alternative asset manager Anicut Capital gets over Rs 30 crore commitment from HDFC AMC’s Fund of Fund
AIFs for startups, SMEs: Alternative investment firm focusing on startups and SMEs Anicut Capital, on Tuesday, announced it has received a commitment of over Rs 30 crore from the asset management company HDFC AMC’s Fund of Fund with a likely additional allocation in the near future. According to a release by Anicut Capital, the investment will be made from HDFC AMC’s Select AIF FOF-I, which invests in category I and II venture capital/private equity-oriented AIFs
“This fund seeks to invest in pedigree fund managers with complementary strategies across investment stages from early to growth to provide optimal risk-adjusted returns with effective diversification,” Anicut Capital said. The investment will be deployed through the firm’s equity fund (Grand Anicut Fund 3) launched in June last year.
Anicut Equity Fund has so far invested over Rs 150 crore in six companies viz., Blue Tokai, Earth Rhythm, Neeman’s, XYXX, Wheelocity, and The Ayurveda Experience. The fund will invest in 12-14 startups in early growth phase focusing on consumer, internet, technology and B2B, among others.
Dhruv Kapoor, Partner, Anicut Capital said, “We are thrilled to welcome HDFC AMC as an investor. At Anicut Capital’s Equity fund, our goal is to provide fuel to businesses demonstrating robust growth across sectors in the country. With this commitment, we are empowered to elevate our investment journey to the next level and actively seek game-changing early growth investment opportunities in the market.”
Anicut Equity Fund was launched with a total corpus of Rs 500 crore and an additional green shoe option of Rs 250 crores. So far, the fund has raised Rs 320 crore including institutional investment of Rs 75 crore from Self Reliant India fund
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