Anicut Capital launches Rs 175 crore Grand Anicut Seed Fund to back early

Anicut Capital launches Rs 175 crore Grand Anicut Seed Fund to back early-stage startups

Alternative asset management firm Anicut Capital has launched the Grand Anicut Seed Fund (GASF), its second early-stage investment vehicle, with a target corpus of Rs 175 crore and a greenshoe option of Rs 75 crore.

The fund will invest in more than 20 startups from the pre-seed to Series A stages across deep-tech, enterprise tech, consumer and financial services. Anicut plans to invest Rs 5-8 crore in each startup and is targeting a first close soon, the company said in a statement on July 29.

Its limited partner base is expected to include institutional investors, high-net-worth individuals (HNIs), and domestic and international family offices. The fund has already begun deploying capital and has closed three investments.

"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," said Ajay Anand, Partner at Anicut Capital.

Since 2021, Anicut's Grand Anicut Angel Fund has invested in 68 startups from the pre-seed to pre-Series A stages. According to the company, these portfolio companies have raised more than Rs 6,000 crore in follow-on funding and delivered 10x revenue growth since Anicut's initial investment.

Notable investments include Agnikul Cosmos, GIVA, Blue Tokai Coffee Roasters, Snapmint, CapGrid and Galaxeye.

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