Anicut Capital receives Rs 75 Cr from Self Reliant India
Chennai-based Anicut Capital will deploy the fund through Grand Anicut Fund 3, which was launched in June 2022.
Tuesday January 03, 2023,
2 min Read
has received Rs 75 crore from Self Reliant India (SRI) for its equity fund. The debt investment firm has also onboarded Arun Thathachari as an executive director.
The allotted funds will be deployed through Anicut Capital's Grand Anicut Fund 3, which was launched in June 2022.
SRI, a SEBI-registered category II alternative investment fund, is a Rs 10,000 crore fund rolled out by the Indian government to invest in micro, small, and medium enterprises (MSMEs) across India.
“Anicut has made a number of equity investments in leading companies that are doing well in the market today. The commitment from SRI Fund furthers our agenda of strengthening small and medium enterprises across India," said Dhruv Kapoor, Partner, Anicut Capital, in a press release.
"Additionally, we are excited to welcome Arun Thathachari to our leadership team. Arun’s induction is a strategic move to propel our continued focus to scale the business and fuel our growth in the market," he added.
The company's third fund is worth Rs 500 crore, with an additional Rs 250 crore green shoe option.
Anicut plans on deploying the funds across 10-15 growth-stage startups within and outside its portfolio. At least five investments have already been made from the fund, while two more are in the discussion stage.
Based in Chennai, Anicut Capital has backed firms, including omnichannel brands Epigamia and Wingreens Farms, Singapore-based The Ayurveda Experience, and Chargeup, which provides a battery-swapping network.
Edited by Suman Singh