Anicut Capital, India’s investment firm, has recently announced the final close of its second debt fund, Grand Anicut Fund – 2 (Category II Alternative Investment Funds (AIF)). The 2nd debt fund saw immense success and is being closed at INR 875 cr with successful investments across 12+ early stage startups, with an average deal size of INR 15-100 crores. The fund plans to invest in about 30 early/growth stage companies across sectors such as consumer brands, technology, F&B, fintech, among others under categories of acquisition financing, promoter/buyback financing, growth capital and capital restructuring.
Anicut secured SEBI approval for its second debt fund called Grand Anicut Fund 2 (GAF -2) of INR 700 cr with a green shoe option to raise additional INR 300 cr. Portfolio companies of GAF-2 includes Wow Momos, ASG Eye Care Hospital, Akna Medical (acquired by Pharmeasy), B9 Beverages (Bira), Azure Hospitality, and Wingreens of which BSB and Wingreens have already seen successful exits. Additionally, the company intends to launch diversified funds in the future, including equity funds, financial institution based debt products and accelerator programs in collaboration with the premier institutions of the country.
“Anicut is the lender of choice for early stage / first generation companies as we provide speed of execution and flexibility which banks and NBFCs cannot provide. Dependent on the projected future cash flow of the company, we foresee investments into startups and firms that find challenges in fund accessibility. Through our continuous efforts, we are channelising synergies and focus to offer competitive advantages and support to the startups. We are also looking forward to helping these startups build robust connections and infrastructure to raise more funds through our ecosystem,” said I A S Balamurugan, Co-Founder and Managing Partner, Anicut Capital elaborating on their plan for the foreseeable future after closing the debt fund.
On the successful closing of the fund Ashvin Chadha, Co-founder and Managing Partner, Anicut Capital said, “The Grand Anicut Fund 2 has established a niche for itself in the field of acquisition financing and has already invested INR 500 cr in various pioneering and promising startups. We are excited to share that we also have a robust pipeline of slated deals that are undergoing due diligence of evaluation and assessments from our end and we shall be announcing them in the due course of time. In the next two quarters, the 2.0 version of Grand Anicut Fund will invest in diverse upcoming entities across various sectors like technology, consumer goods, financial services, education, healthcare and others.”
