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Anicut Capital, a multi-asset alternative investment firm, has declared the close of its maiden late-stage Equity Continuum fund of Rs 300 crore. This fund will be used to support high-potential companies that are preparing for an IPO within the next 2-4 years.

With this closure, Anicut Capital’s total assets under management (AUM) have surpassed Rs 3,000 crore across all its funds, states the company release.

According to the firm, the fund will invest in 5 to 6 companies that have scaled significantly, profitable, and are IPO-ready. These companies are selected from within the Anicut ecosystem, and have had long-standing relationships with Anicut Capital, spanning over five years.

“We are excited about the successful closure of the Rs 300 crore Anicut Equity Continuum Fund (Rs 200 crore + Rs 100 crore green-shoe option) and the strong investor interest it has attracted. The swift closure within eight weeks, bolstered by a substantial Rs 60 crore investment from HDFC AMC, underscores strong investor confidence,” said Ashvin Chaddha, Managing Partner and Co-founder, Anicut Capital.

To date, Rs 400 crore has been successfully deployed across seven deals, with the entire corpus expected to be deployed by the end of the financial year.

The firm is further planning to raise its third credit fund, aiming for a corpus of Rs 1,200-1,500 crore.

“Expanding on private credit and early-stage innovation, we’ve launched three active fund structures in GIFT City and demonstrated strong investment execution with $100 million deployed in the first half of 2024,” said IAS Balamurugan, Managing Partner & Co-founder.