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Anicut Equity Fund launched its Grand Anicut Fund 3 in June 2022 with a total targeted corpus of ₹500 crore, with an additional ₹250-crore green shoe option. It has so far closed two-thirds of the fund and also received a commitment of Rs 75 crore (about $9 million) from the Self Reliant India Fund (SRI).
Anicut Capital is a multi-asset financial institution with offerings in debt and equity.
GAF-3 is focused on the consumer and technology sectors, and aims to invest in 12-14 early growth-stage companies in the Series A and B stages across the Anicut and non-Anicut portfolios, over the next 18-24 months.
Since its launch, the fund has invested in 6 startups, that are — Earth Rhythm and The Ayurveda Experience, Neemans, Wheelocity, Blue Tokai Coffee, and mens apparel brand XYXX.
The latest fundraise comes through the Fund of Funds for Startups, launched under the Startup India Initiative by the Government of India. SIDBI is an existing investor in Anicut Capital and has invested in both of its debt funds. The bank had invested Rs 140 crore (about $16.9 million) in Anicut's second debt fund.
Prior to Grand Anicut Fund – 3 (GAF-3), Anicut had earlier launched two debt funds (GAF-1 and GAF-2), Anicut Angel Fund and Anicut Opportunities VC Fund. Cumulatively, Anicut managed an AUM of INR 1600 crores with investments in early and growth stage start-ups. Anicut's portfolio companies include brands like Wow! Momo, Bira, Sugar cosmetics, Earth rhythm, Wingreens, Blue Tokai, Sharechat, Mcaffeine, Milkymist, XYXX, Curatio Healthcare, Agnikul, Grip Invest, to name a few.
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