Anicut Capital has introduced the ultimate shut of its third non-public credit score car, Grand Anicut Fund IV (GAF-IV), at Rs 1,275 crore, exceeding its preliminary goal of Rs 1,000 crore.

The Chennai-headquartered funding agency stated the fund will again corporations throughout shopper, engineering companies, SaaS, manufacturing, hospitality, and shipbuilding sectors.

Based on the agency, GAF-IV features a GIFT Metropolis-based greenback feeder construction that enables world buyers to take part in India’s non-public credit score alternative. By this feeder, Anicut raised round $11 million, or practically Rs 92 crore, in dollar-denominated commitments final yr. The agency plans to deploy capital with a mean cheque measurement of about Rs 80 crore per transaction.

With the shut of GAF-IV, Anicut Capital’s complete belongings beneath administration stand at round Rs 4,500 crore throughout six funds, cut up evenly between debt and fairness methods. Based in 2016 by Ashvin Chadha and IAS Balamurugan, the agency offers each debt and fairness capital to growth-stage corporations.

“We search for dependable promoters who’ve navigated cycles, reinvested money flows again into the enterprise, and constructed resilient working methods that have a tendency to face out greater than these optimising for short-term valuations,” stated IAS Balamurugan, co-founder and managing associate at Anicut Capital. The agency stated its funding method continues to stress cashflow high quality, company governance, and clearly outlined exit pathways, whereas strengthening its institutional underwriting framework throughout successive fund cycles.

Anicut’s portfolio contains corporations akin to Milky Mist, The Ayurveda Expertise, Wow! Momo, Mistral, Blue Tokai, XYXX, ToneTag, GNRC Hospital, Neemans, and Agnikul.