Anicut Capital Raises Rs 110 cr

Anicut Capital, an investment management firm, announced on Tuesday that it has raised Rs 110 crore to acquire equity stakes in startups across industries. The Rs 500-crore Anicut Opportunities Fund I has reached its first close. According to an official statement, the fund will be used to invest in up to 15 growth stage companies.

The newly launched fund has a Rs 250-crore greenshoe option, it said, without disclosing the details of the Rs 110 crore commitments. Dhruv Kapoor, who will be in charge of driving growth through equity investments, has also been appointed as a partner by the firm.

The ten-year-old firm, which takes both venture debt and equity bets and has a portfolio of 72 startups, stated that the newly raised funds will be invested in both existing and new investee companies. It has previously invested in companies such as Aptus, Fivestar, Box8, Bira, Lendingkart, Wow! Momo, and Loginext.

''Our understanding is that massive compounding of returns is yet to happen and we are sitting on early equity positions with tomorrow's market leaders. We firmly believe that once invested, we prefer to exit along with the founders,'' its founding partner Ashvin Chadha said.