New Delhi : Anicut Capital, an Indian investment firm managing alternative assets, today announced the first closing of INR 500cr Anicut Opportunities Fund I. The first closing corpus stands at INR 110cr. The investment company aims to deploy funds raised into 10-15 growth-stage companies in both Anicut and non-Anicut portfolios over a two-year period. The distribution of funds for deployment will be a combination of ecosystem and external (non-Anicut portfolio) agreements.
Over the past 10 years, Anicut’s team has performed early checks into some of the most iconic startups emerging in the Indian market like Aptus, Fivestar, Box8, Bira, Lendingkart, Wow! Momo, Loginext among others. Holding a diverse group of 72 startups under its wings, Anicut Capital aims to extend Series A and Series B stage funding across all sectors to promising startups that are primed for growth. So far in its portfolio, Anicut holds a clutch of 30 start-ups on the debt side and 42 on the equity side. A few of the names include Bira, Wow! Momo, Earth Rhythm, ShareChat, Neemans, MilkyMist, Wingreens, Mcaffeine, Lendingkart etc.
Speaking on occasion, Ashvin Chadha, Founding Partner, Anicut Capital said, “Anicut’s ecosystem, through the investment of its team and angel fund, consists of equity positions in leading companies backed by validation from global venture capital firms. We understand that a massive compounding of returns has yet to take place and we are sitting on early equity positions with tomorrow’s market leaders. We firmly believe that once invested, we prefer to date the founders. Therefore, the opportunity is right for us to identify tomorrow’s market leaders within and outside the Anicut ecosystem and support their journey of success. Moreover, the green shoe option of INR 250 Cr is a testament to the trust we have earned from our investors and innovators. »
This equity-focused corpus underscores the fund’s strategy to fuel growth in India’s emerging sectors and portends Anicut’s intention to diversify its investment strategy to ensure continued growth for its LPs. (Limited Partner) and the start-up ecosystem.
Anicut also announced today that Dhruv Kapoor has joined as a partner. The appointment follows Anicut’s continued focus on scaling the business and full funnel growth. With more than 18 years of experience under his belt in the consumer technology and SAAS sectors, Dhruv will be responsible for driving the growth of the fund’s equity portfolio and will showcase his acumen of high-growth industries to to fuel Anicut’s already thriving investment roadmap.
“Anicut Capital has built stellar credibility through its ‘founder first’ mentality offering multiple products that address the different stages of a company’s life cycle. As the investment manager launches its seed equity fund, I am thrilled to partner with the team to grow the venture capital franchise and work closely with visionary founders,” said Dhruv Kapoor, Partner, Anicut Capital on his new role.
In his previous role, Dhruv was the partner of Sistema Asia Fund, a $120 million Asia-focused growth stage fund. He was also an integral part of Helion Ventures, a $600 million India-focused fund. Prior to Helion, Dhruv spent significant time at McKinsey & Co. and ABN Amro Bank. He holds an MBA and a Bachelor of Commerce.
“We also welcome Dhruv to our illustrious team and look forward to learning and expanding Anciut with his wealth of experience and in-depth knowledge,” comments Ashvin Chadha on the latest addition to Anicut’s management team.
Launched in 2015 to provide small debt to small and medium enterprises in 2015, Anicut launched Grand Anicut Fund-1 (GAF-1) in 2016. Fast forward seven years, Anicut now operates two debt funds – Grand Anicut Fund I and Grand Anicut Fund II and an angel fund and has assets under management of approximately Rs 1,600 Cr.
