Anicut Capital has bagged Rs 50 crore from the Small Industries Development Bank of India (SIDBI) for its Anicut Equity Fund. The firm launched Grand Anicut Fund 3 in June 202 aiming to bag Rs 500 crore with an additional Rs 250 crore in green shoe option.
According to a statement, the move is the investment aimed at boosting the early growth-stage companies part of Anicut’s Equity portfolio. The investment comes through the Fund of Funds for Startups (FFS), launched under the Startup India Initiative.
Moreover, SIDBI, an existing Anicut Capital investor, had invested Rs 140 crore in Anicut’s second debt fund. The fund has invested in six companies in its maiden year. With a focus on the consumer and technology sectors, it plans to invest in 12-14 early growth-stage companies (Series A and B) into the companies belonging to Anicut and non-Anicut portfolios over the next 18-24 months.
Anicut Capital manages multiple funds worth Rs 1,600 crore. So far it has invested in early and growth-stage startups such as Wow! Momo, Bira91, SUGAR Cosmetics, and more.
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