Anicut Capital, a Chennai-based alternative asset management firm, has raised $11 million in dollar-denominated investments for its Private Credit Fund III.
The funds were raised through the GIFT City (Gujarat International Finance Tec-City) structure, which has been developed to promote international investments in India.
Who are the investors?
Funding came from a diverse group of institutions investorsfamily offices and high net worth individuals (HNIs) from key global markets including the US, UK, Europe and the Middle East.
The investment was facilitated by the International Financial Services Centers Authority (IFSC), an entity designed to attract and regulate international financial services in India.
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Anicut Capital’s Private Credit Fund III is part of a larger goal of raising a total corpus of Rs 1,500 crore (approximately $180 million).
The fund aims to provide much-needed financial solutions to medium-sized businesses in India. It will focus on providing credit for acquisitions, developer buybacks, bridge financing and other growth capital needs.
With the capital raised, Anicut Capital plans to close funding gaps for these companies, helping them scale and expand in a competitive market.
Anicut Capital History
Since its inception, Anicut Capital has deployed around Rs 3,200 crore ($390 million) in private credit across various sectors. The company’s portfolio includes renowned companies such as Milky Mist, Wow! Momo, Bira, Blue Tokai and Agnikul.
With these investments, Anicut has played an important role in supporting companies poised for growth, fostering innovation and development in the Indian market.
According to Ashvin Chadha, managing partner at Anicut Capital, the funds raised through the GIFT City structure reflect the growing confidence of global investors in the company’s ability to offer customized credit solutions for mid-market companies.
GIFT City and future plans
GIFT City has emerged as a key hub for international financial services in India, and the successful raising of capital through this structure reinforces its role in facilitating cross-border investments. Anicut Capital’s continued focus on raising funds through GIFT City for its Private Credit Fund III aligns with its broader strategy of supporting high-potential companies in India.
The company is also expanding its presence in GIFT City and its presence in major cities in India including Delhi, Chennai and Bengaluru.
Anicut Capital has a total assets AUM (assets under management) of Rs 3,500 crore.
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