Amicus Capital hits first close of second fund at $146 mn

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₹1,215 crore). The fund plans to invest $10-30 million each in 10-12 middle market companies across five key sectors—financial services, consumer, healthcare, technology & business services, and specialty manufacturing, a company statement said. European Investment Bank, US International Development Finance Corporation, Self-Reliant India (SRI) Fund, HDFC Fund of Funds, large domestic insurance companies & financial institutions, family offices and HNIs from across the world are some prominent investors that participated in the second fund.

“Their participation will catalyze Amicus Capital in supporting middle market companies in India," Amicus Capital’s co-founder and partner Sunil Theckath Vasudevan said in the statement. With this closing, the second fund will progress towards a final close later in the year, as per the statement. ‘Digitalization’ and ‘market access’, which refer to penetration across tier II cities and beyond, are key investment themes of the fund.

“The fund is highly committed to ESG with the aim of building resilient businesses that generate long-term sustainable returns for its stakeholders," said Mahesh Parasuraman, co-founder and partner at Amicus Capital. So far, Amicus Capital has a portfolio of 12 companies including RenewBuy.com, Wonderchef, Altum Credo Home Finance, Capital SFB, and mCaffeine, among others. Founded in 2015, the private equity firm has seen commitments from large European family offices and multilateral institutions and manages funds worth $88 million.