New Delhi: Anicut Capital, an Indian investment firm managing alternative assets- debt and equity, today announced that they have received the SEBI approval of Rs.1500 crores, including a green shoe option of Rs. 500 crores, for their third debt fund, Grand Anicut Fund 4. With the third debt fund, which is an AIF, Category II debt fund, Anicut Capital has successfully closed a total of five funds in a span of 6 years. The asset management company plans to launch the fund in Q4FY23 and announce the first close by the end of same quarter.
The AMC has been able to grow its portfolio exponentially since inception Despite the funding winter looming over startups, in CY22, Anicut invested upwards of Rs. 550 crores across 15 investments through the second debt fund, and in25 equity raise rounds across early stage as well as growth stage start-ups. Over the last 7 years, Anicut Capital has invested in multiple iconic start-ups in India such as, Bira, Kaynes Technologies, Lendingkart, Wow! Momo, Milky Mist, Agnikul, Sharechat amongst others. So far in its portfolio, Anicut holds a clutch of 34 start-ups on the debt side and 55 on the equity side.
“Anicut has witnessed tremendous portfolio growth since its inception. With the closure of Grand Anicut Fund 4 we are delighted to further strengthen our support to empower the Indian startup ecosystem. The past years have been highly encouraging with the closure of five funds over all and we are confident that our investment portfolio companies will be the leaders of tomorrow. Anicut’s ecosystem consists of equity investments in leading companies who are bound to grow multifold overtime. To add onto the successful journey, we are also thrilled to welcome Chetan Prakash in the Anicut team and look forward to learning from his immense experience and knowledge”, said Ashvin Chadha, Founding partner, Anicut Capital.
To further strengthen their ecosystem, Anicut Capital also announced the joining of Chetan Prakash Sancheti as a Partner. The onboarding of Chetan is aimed at strengthening and diversifying operations at the debt side. Chetan brings a rich experience of 15 years in Corporate and Investment banking with deep domain expertise in Deal Origination, Structured finance & Risk analysis.
“I’m delighted to be a part of such a dynamic ecosystem. With its razor-sharp focus and robust team, Anicut Capital has had an exhilarating journey so far and is poised to witness immense growth in the coming years. I am excited to work with the ambitious team and strengthen the debt side operations across the organisation”, said, Chetan Prakash Sancheti, Partner, Anicut Capital.
Chetan started his career with Tata Capital Ltd and has been associated with IndusInd, YES Bank and CredAvenue (Vivriti Group). He holds a BE degree and an MBA from University of Madras and is also a Certified Associate of Indian Institute of Bankers (CAIIB) from Indian Institute of Banking and Finance (IIBF).