Alternative investment firm Anicut Capital has raised $11 million in dollar-denominated investments through the GIFT City Structure for its Private Credit Fund 3. This follows the firm’s Rs 50 crore investment from the Small Industries Development Bank of India (SIDBI) in September last year for the Anicut Equity Fund.

Strategic Investments in High-Growth Companies

Within its first year of operation, Private Credit Fund 3 has already made investments in six companies, including Earth Rhythm, Neemans, Wheelocity, The Ayurveda Experience, Blue Tokai Coffee, and XYXX. These investments aim to fuel growth in diverse sectors, showcasing Anicut Capital’s strategy of supporting promising mid-sized enterprises.

Attracting Global Investors through GIFT City Structure

The recent $11 million funding is part of a broader strategy to attract dollar-denominated investments into India from a diverse pool of institutional investors, family offices, and high-net-worth individuals (HNIs) across key markets such as the US, UK, Europe, and the Middle East. The funds are raised through the International Financial Services Centres Authority (IFSC), a statutory body established by the Government of India to facilitate international investments via the GIFT City Structure.

Targeting a Corpus of Rs 1,500 Crore for Private Credit Fund 3

The new funding contributes to Anicut Capital’s ongoing efforts to raise a total corpus of Rs 1,500 crore for its third private credit fund. Since its inception, the firm claims to have deployed approximately Rs 3,200 crore across mid-sized enterprises in the private credit space. This strategic focus enables Anicut Capital to support companies with flexible credit solutions while meeting the rising demand for alternative financing options.

 

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