New Delhi, Dec. 24 -- Anicut Capital has completed the final close of its Grand Anicut Fund IV at Rs 1,275 crore ($142 million), marking the firm's third private credit fund.
The fund was launched with a target corpus of Rs 1,000 crore and a greenshoe option of Rs 500 crore. It also includes a GIFT City-based dollar feeder, enabling global investors to participate in India's private credit market.
Since its first close, Grand Anicut Fund IV has invested in 15 companies and deployed around Rs 1,100 crore. The fund has exited two investments, generating an average exit internal rate of return (IRR) of 19%.
The portfolio spans sectors such as consumer, engineering services, SaaS, manufacturing, hospitality and shipbuilding, with Anicut writing average cheques of about Rs 80 crore per transaction. Following the close of GAF-IV, Anicut Capital's total assets under management stand at around Rs 4,500 crore across debt and equity strategies, the firm said in a press note.
"We look for reliable promoters who have navigated cycles, reinvested cash flows back into the business, and built resilient operating systems that tend to stand out more than those optimizing for short-term valuations" said IAS Balamurugan, co-founder and managing partner at Anicut Capital.
Chennai-headquartered Anicut Capital is an alternative asset management firm that manages multiple AIFs across debt and equity strategies focused on high-growth Indian enterprises. The firm manages six funds, including three debt funds and three equity funds. Its portfolio includes companies such as Milky Mist, The Ayurveda Experience, Wow! Momo, Mistral, Blue Tokai, XYXX, ToneTag, GNRC Hospital, Neemans, and Agnikul.
Published by HT Digital Content Services with permission from VC Circle.