Anicut Capital Launches New Rs 175 Crore Seed Fund

Anicut Capital, a Chennai-based investment firm, has launched its second early-stage fund, the Grand Anicut Seed Fund (GASF). This new vehicle targets a corpus of Rs 175 crore, with an additional greenshoe option of Rs 75 crore.

The GASF is designed to invest in startups during their pre-Series A and Series A funding rounds. The focus sectors include deeptech, enterprise technology, consumer businesses, and financial services.

With a goal to back more than 20 emerging companies, Anicut Capital plans to allocate between Rs 5 crore and Rs 8 crore to each startup. This initiative aims to bolster Anicut's early-stage investment portfolio and support high-growth potential businesses.

Ajay Anand, Partner at Anicut Capital, stated that the firm's early-stage strategy has been successful with their previous fund, Grand Anicut Angel Fund. The new fund will build on this proven approach, offering capital and strategic guidance to founders in their initial growth phases. The GASF is expected to achieve its first close soon, attracting investment from various institutional investors and high-net-worth individuals. The firm has already initiated deployment and closed three investments from the fund.