These promotions and new hires reflect the ongoing expansion we have observed and anticipate at Anicut Capital
Anicut Capital, an Indian investment firm managing alternative assets- debt and equity, today announced the elevation of Ajay Anand as a partner, he will lead the early-stage equity fund and appointment of Veenu Mittal as the new chief financial officer (CFO). She will lead three product lines in her new role with Anicut Capital: the debt, angel, and equity fund. Ajay has an impressive skill set in identifying young companies to back, Deal Diligence, deal structuring, leading negotiations, post-investment mentoring and monitoring, corporate law, investor relations, and compliance, thanks to his more than 15 years of expertise in early-stage startup fundraising .
Veenu has 18 + years of extensive experience in Finance & Business Strategy, Revenue Planning and Cost Optimisation, and Corporate Governance across various industries, including telecom, passive infrastructure, food and hospitality, education, and realty.
Read also – Karma Capital Partners with Growthfiniti Wealth
Ajay has been instrumental in identifying, closing and managing more than 200 investments, on behalf of Angels. He served as the CFO of the IAN Fund and Indian Angel Network before joining Anicut Capital. Ajay has been managing the Angel fund vertical for Anicut since inception and now will lead the vertical and work towards launching innovative products for early-stage startup ecosystem.
“I am excited to be a part of the team and this is a tremendous opportunity to have a greater impact on the firm, our people, and our clients. We see brilliant ideas and startups being established in the country, I look forward to continuing to make a difference by helping the startups and Anicut Capital grow and reach the next level of success,” said Ajay Anand, Partner, Anicut Capital
The company looks to capitalize on Veenu’s extensive experience in evaluating the deals that Anicut would do and then provide post-investment support to the startups for their business and operations strategy. On the education front, she is FCMA and CGMA from CIMA UK and MBA from International Management Institute. Veenu Mittal worked with Bharti Airtel as the CFO for Broadband Business.
“I extend my gratitude to Anicut Capital for extending this opportunity. I am thrilled to be a part of this outstanding team at such an exciting time for Indian entrepreneurs and venture capitalists. The days ahead hold opportunities and growth for the ecosystem as a whole.I look forward to playing an enabling role in our common vision with an emphasis on ease of doing business for our people and the startup ecosystem,” said Veenu Mittal, CFO, Anicut Capital
“We are building a strong team while also focusing on the growth of existing members. Recently Ajay Anand has been elevated as Partner to take charge of the Angel Fund vertical. As a partner, he has the necessary skillsets and experience to take the Anicut Angel Fund to its potential, which was largely established because of him. We are also delighted to welcome Veenu Mittal as Chief Financial Officer at a critical juncture in our financial operations. Besides bringing a wealth of experience in all aspects of business and financial strategy, Veenu also possesses demonstrated leadership abilities, which are vital assets for a company like Anicut Capital. We are convinced that Veenu’s extensive expertise and experience will be invaluable as we strive to become better with time” Ashvin Chadha, Founding Partner, Anicut Capital, said.
The latest news about Anicut Capital would be the Securities and Exchange Board of India (SEBI) approving their Rs. 1,500 crore debt fund. They want to launch the fund in the January-March 2023 quarter and hope to have it operational by the end of the same quarter. They are thrilled to strengthen our support for the Indian startup ecosystem with the closing of Grand Anicut Fund 4. The last few years have been quite positive, with the closing of five funds in all, and they are sure that their investment portfolio companies will be tomorrow’s leaders.
About Anicut Capital
Anicut Capital is a multi-asset financial institution with offerings in debt and equity. Anicut currently manages two debt funds (GAF-1 and GAF-2), Anicut Angel Fund and Anicut Opportunities VC Fund. Cumulatively, Anicut manages 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.