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Financing firm Anicut Capital is looking to raise $138 mn for its second and largest fund

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Financing firm Anicut Capital is seeking to raise $138 million for its second fund for which it has received the approval of the Securities and Exchange Board of India (SEBI).

Bengaluru, 13th Nov,2018. Rednewswire/-

SEBI offers debt financing to small and medium businesses. SEBI has approved a fund size of Rs 700 crore with a greenshoe option to raise an additional Rs 300 crore for Grand Anicut Fund II. Anicut is already in talks with high net-worth individuals (HNIs) and the fundraising process is likely to be completed by mid-2020.

Anicut had previously raised about Rs 400 crore for its first fund, which it has deployed fully across 18 investments over two years. The first fund made its final close in February 2018. The investment firm has made 18 investments from the first fund over two years, including in consumer brands such as Bira 91, Popi Corn run by Timla Foods and lending platform LendingKart, among others.

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The firm is looking at event-driven financing opportunities for small and medium businesses such as acquisition financing, buybacks, bridge financing especially across cash flow positive consumer and education companies.

With this larger fund, we will have the ability to write larger cheques of Rs 35-40 crore per investment, said ,I A S Balamurugan, managing partner at Anicut Capital