The alternative investment company Anicut Capital has revealed that its Private Credit Fund 3 has received $11 million in dollar-denominated investments through GIFT City Structure.
The Small Industries Development Bank of India (SIDBI) provided an investment of Rs 50 crore to Anicut Capital in September of last year for the Anicut Equity Fund.
The fund has already made investments in six businesses in its first year of operation: XYXX, Wheelocity, The Ayurveda Experience, Blue Tokai Coffee, Neemans, and Earth Rhythm.
With the help of the investment structure, a wide range of institutional investors, family offices, and high-net-worth individuals (HNIs) from important international markets like the US, UK, Europe, and the Middle East hope to make dollar-denominated investments in India.
Raising money takes place at the International Financial Services Centres Authority (IFSC), a statutory body set up by the Indian government to promote foreign investment.
The total corpus of Rs 1,500 crore that Anicut Capital is presently raising for its third private credit fund is augmented by the funds received through GIFT City Structure. Since its founding, Anicut has allegedly invested Rs 3,200 crore in private credit, primarily in mid-sized businesses.
