Anicut Capital, a financial services provider, announced that it has received an investment of more than Rs 30 crore from HDFC Asset Management Company (AMC)’s Fund of Funds.
Grand Anicut Fund 3, the company’s equity fund, which was established in June 2022, will be used to distribute the funds, as reported by ET.
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Commenting on the investment, Ashvin Chadha, founding partner at Anicut Capital, said, “We are elated to bring onboard HDFC AMC as an investor and long-term partner for our equity fund… We continue to see tremendous investment opportunities in India driven by the country’s structural growth drivers, and our long-term investment outlook continues to remain positive.”
The company also stated that the fund would concentrate on early growth investments across 12–14 businesses, both inside and outside of its portfolio, in industries like technology, business-to-business (B2B), consumer, and the internet, among others.
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“At Anicut Capital’s Equity fund, our goal is to provide fuel to businesses demonstrating robust growth across sectors in the country,” said Dhruv Kapoor, partner at Anicut Capital.
About Anicut Capital LLP
Grand Anicut Funds 1 and 2, Category II Alternative Investment Debt Funds, and Grand Anicut Angel Fund, a Category I Angel Fund, are all managed by Anicut Capital LLP.
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