Investment management firm Anicut Capital has raised Rs 110 crore to acquire equity stakes in startups across sectors. This is the first close for the Rs 500-crore Anicut Opportunities Fund I. The fund will be deployed to take stakes in up to 15 growth stage companies, per the firm’s statement.
There is a Rs 250-crore greenshoe option as well for the newly started fund, it said without disclosing details of Rs 110 crore commitments.
The firm also announced the appointment of Dhruv Kapoor as a partner who will be in charge of growth through equity investments.
The ten-year-old firm, which takes both venture debt and equity bets and has a portfolio of 72 startups, said the newly raised money will be deployed in both its existing investee companies and new ones.
Its past investments include companies like Aptus, Fivestar, Box8, Bira, Lendingkart, Wow! Momo, and Loginext.
