Anicut Capital Launches Grand Anicut Seed Fund With a Target Corpus of ₹175 Crore

Anicut Capital, an alternative asset management company managing multiple AIFs across both debt and equity strategies, has launched its Grand Anicut Seed Fund (GASF). With a target corpus of ₹175 Crore and a Greenshoe option of ₹75 Crore, this is Anicut’s second fund for Early-stage Investments. This fund is set to focus on Pre-seed to Series A investments across Deep-tech, Enterprise-tech, Consumer and Financial Services start-ups.

With GASF, Anicut plans to invest in 20+ start-ups with ticket sizes in the range of ₹5 to 8 Crores. The fund is targeting a first close soon, with a target LP mix of Institutional Investors, HNIs, Domestic & Foreign Family Offices. The Fund has started deploying and has closed three deals, all being led by Anicut, well distributed across themes & stages and actively building the prospects for deployment. 

Anicut has been investing in Early Stage equity since 2021 through Grand Anicut Angel Fund (GAAF), which has made 68 investments to date ranging from pre-seed to pre-series A across deep-tech, enterprise tech, consumer and financial services start-ups. These startups have gone on to raise follow-on capital to the tune of over INR 6,000 crores, with 10x portfolio revenue growth since first check. Notable portfolio companies under GAAF include Agnikul Cosmos, GIVA, CapGrid, InspeCity, Leumas, Neeman's, Blue Tokai Coffee Roasters, Snapmint, Salty, GRIP, Galaxeye, E-plane and E-trnl. 

Speaking on the launch of the fund, Ajay Anand, Partner, Anicut Capital, said, “Our early-stage investment strategy has been validated through our previous fund, Grand Anicut Angel Fund, which is currently tracking materially ahead of relevant benchmarks and has backed several category-defining companies. With our second fund, we aim to build on this proven strategy by partnering with exceptional founders in their 0-to-1 journey, providing both capital and strategic support as they create next-generation categories and build enduring, market-leading businesses.”