NIIF’s Government Fund Invests $25M in Amicus Capital Fund II
- ByStartupStory | February 19, 2024
The National Investment and Infrastructure Fund (NIIF), a collaborative investment platform led by the Government of India, has allocated Rs 207 crore ($25 million) to Amicus Capital Fund II. The funding originates from NIIF’s Fund of Funds – I, part of its Private Markets Business (PMF)-I.
“The PMF-I initiative aims to support seasoned and emerging fund managers with a robust track record and institutional mindset, with a focus on ESG practices,” stated sources familiar with the matter.
Diversifying across growth equity, venture capital, buyout, and credit, PMF-I invests in critical sectors such as climate, healthcare, and technology. With investments in eight complementary funds, PMF-I has fully utilized its aggregate capital commitments.
According to Mahesh Parasuraman, Partner and Co-founder of Amicus Capital, “NIIF’s support, particularly at this stage, as one of the largest investors in Amicus Capital Fund II, is anticipated to boost our fundraising efforts. Including NIIF’s commitment, our second fund has amassed $171 million (~Rs 1,415 crore) to date.”
Amicus Capital Fund II, aiming to secure $200 million for disbursements, focuses on supporting technology enterprises in specialized manufacturing, healthcare, and financial services sectors.
Managing $4.9 billion across multiple funds, NIIF aims to bolster India’s developmental requirements. PMF facilitates global investors’ access to India’s private asset market via third-party fund managers and co-investment prospects.
“We are thrilled to collaborate with Amicus Capital, underscoring our dedication to supporting high-performing fund managers implementing a well-defined investment strategy with discipline and a strong team,” remarked Anand Unnikrishnan, Managing Partner – Private Markets, NIIF.
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