Anicut Capital raises $11M through GIFT City structure for private credit expansion
This investment supports Anicut’s strategy to bridge funding gaps for mid-market enterprises, offering solutions like acquisitions, promoter buybacks, and bridge financing.
Alternative asset management firm Anicut Capital has secured $11 million in dollar-denominated investments through the GIFT City Structure for its Private Credit Fund 3.
This funding, sourced from global institutional investors, family offices, and high-net-worth individuals (HNIs) from markets such as the US, UK, Europe, and the Middle East, was raised in the International Financial Services Centres Authority (IFSC), which facilitates international investments into India.
This investment supports Anicut’s strategy to bridge funding gaps for mid-market enterprises, offering solutions like acquisitions, promoter buybacks, and bridge financing. Anicut has already deployed Rs 3,200 crore in private credit across various sectors and aims to raise Rs 1,500 crore for this third fund.
"The funds received via GIFT City structure in our Private Credit Fund 3 highlights global investors' confidence in Anicut," said Ashvin Chadha, Managing Partner at Anicut Capital, according to a press release. “We are committed to delivering strong returns by offering customized credit solutions for mid-market companies, leveraging our industry expertise to create value for both investors and businesses."
Anicut’s funds have helped companies accelerate strategic expansion, fostering high-potential businesses, and enhancing leadership in India's investment landscape.
Anicut's portfolio includes well-known companies like Milky Mist, Wow! Momo, Bira, Blue Tokai, and Agnikul. The firm operates across key Indian cities, including Delhi, Chennai, Bengaluru, and GIFT City, fostering innovation and driving sustainable growth in the country.
Chennai-based agritech startup WayCool recently secured Rs 100 crore ($11.9 million) in debt funding from Grand Anicut through 1,000 Series B6 debentures with an 18% annual interest rate, aiming to refinance existing borrowings and support working capital.
In July, Anicut Capital raised Rs 300 crore for its first late-stage equity continuum fund, aimed at reinvesting in 5-6 outperforming companies from its portfolio. This "winners-only" fund will focus on businesses preparing for IPOs in the next two to three years, with Anicut writing larger cheques of Rs 50-60 crore per investment.
With this fund, Anicut now covers startups across all stages, from seed to growth, including private credit financing.
Edited by Affirunisa Kankudti