Anicut Capital secures INR 50 crore from SIDBI for Anicut Equity Fund

• ByStartupStory     |    September 5, 2023

Anicut Capital has secured a Rs 50 crore investment from the Small Industries Development Bank of India (SIDBI) for its Anicut Equity Fund. Anicut Equity Fund launched the Grand Anicut Fund 3 in June 2022, targeting Rs 500 crore with an additional Rs 250 crore in a green shoe option. The venture capital firm has closed two-thirds of the fund and received a commitment of Rs 75 crore from the Self Reliant India Fund. This investment is made through the Fund of Funds for Startups (FFS), part of the Startup India Initiative, with the aim of supporting early growth-stage companies in Anicut’s Equity portfolio.

“This investment isn’t just a vote of confidence in Anicut, but a strategic alignment aimed at boosting India’s evolving entrepreneurial landscape,” said S P Singh, CGM Incharge, Venture Finance, SIDBI.

 “We anticipate this collaboration to result in substantial, high-impact outcomes that will benefit the broader business community and contribute to the nation’s economic prosperity,” he added.

SIDBI is an existing investor in Anicut Capital, having invested Rs 140 crore in Anicut’s second debt fund. The Anicut Equity Fund has invested in six companies in its first year, focusing on the consumer and technology sectors. Over the next 18-24 months, it plans to invest in 12-14 early growth-stage companies (Series A and B) across Anicut and non-Anicut portfolios.

Anicut Capital is a multi-asset financial institution managing three debt funds, one angel fund, and one early growth equity fund with a total AUM of Rs 1,600 crore. It invests in early and growth-stage startups, including Wow! Momo, Bira, Sugar Cosmetics, Walgreens, Blue Tokai, Sharechat, Mcaffeine, Milkymist, XYXX, Curatio Healthcare, Agnikul, Eplane, Impresario, and Grip Invest.

“This investment will greatly enhance our ability to create value across multiple sectors and give us the opportunity to further enhance the third largest startup ecosystem in the world,” said Ashvin Chadha, Founding Partner, Anicut Capital

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