Anicut Capital closes 2nd debt fund at ₹875 cr

Chennai: Investment firm

Anicut

Capital has closed its second debt fund - Grand Anicut Fund- 2 (GAF -2) at Rs 875 crore. Anicut secured

SEBI

approval for the fund — a Category II Alternative Investment Fund (AIF) — for Rs 700 crore with a green shoe option to raise additional Rs 300 crore and said they saw massive interest for its subscription. The fund plans to invest in about 30 early and growth stage companies across sectors such as consumer brands, technology, F&B, fintech, among others and will primarily look at specific cases including acquisition financing, promoter/buyback financing, growth capital and capital restructuring. The Grand Anicut Fund 1, which hit its final close in 2018, is a Rs 400 crore fund. Both the debt funds together have an asset under management of around Rs 1,300 crore. GAF-2 has already made investments in around 12 startups including

Wow Momos

, ASG Eye Care Hospital, Akna Medical (acquired by

Pharmeasy

), B9 Beverages (Bira), Azure Hospitality, Wingreens, and others. —

Sindhu Hariharan