Anicut Capital raises Rs 110 Cr to invest in startups
- ByStartupStory | June 8, 2022
Anicut Capital, an investment management company, said on Tuesday that it had funded Rs 110 crore to purchase equity holdings in startups across a variety of industries. The Rs 500 crore Anicut Opportunities Fund I has reached its first closure. The money will be used to invest in up to 15 early-stage firms.
It also stated there is a Rs 250 crore greenshoe option for the newly launched fund, without divulging the details of the Rs 110 crore commitments. Dhruv Kapoor has been named a partner in the company and will be responsible for driving expansion through equity investments.
The ten-year-old business, founded in 2016 by Ashvin Chadha and IAS Balamurugan has a portfolio of 72 startups and accepts both venture loans and equity bets, said the freshly obtained funds would be invested in both existing and new investee firms. Aptus, Fivestar, Box8, Bira, Lendingkart, Wow! Momo and Loginext are among their previous investments.
Ashvin Chadha, one of the firm’s founding partners stated that the firm believes that tremendous compounding of returns is still to come and that we are sitting on early equities positions with tomorrow’s market leaders. We feel that once we’ve invested, we should depart with the founders.
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