Debt and equity investment firm Anicut Capital has received market regulator Securities and Exchange Board of India (SEBI) approval for a Rs 1,500-crore debt fund.

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Anicut Capital's third debt fund, Grand Anicut Fund 4, includes a green shoe option of Rs 500 crore, the firm said on Wednesday.

The asset management company plans to launch the fund in the January-March 2023 quarter and aims first close by the end of the same quarter.

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"With the closure of Grand Anicut Fund 4, we are delighted to further strengthen our support to empower the Indian startup ecosystem. The past years have been highly encouraging with the closure of five funds overall and we are confident that our investment portfolio companies will be the leaders of tomorrow," Anicut Capital, Founding partner Ashvin Chadha said in a statement.

With the third debt fund, which is an AIF, Category II debt fund, Anicut Capital has successfully closed a total of five funds in a span of six years.

Anicut invested upwards of Rs 550 crore across 15 investments through the second debt fund, and in 25 equity raise rounds across early stage as well as growth stage start-ups, the firm said.

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Over the last seven years, Anicut Capital has invested in multiple start-ups in India such as Bira, Kaynes Technologies, Lendingkart, Wow! Momo, Milky Mist, Agnikul, and Sharechat amongst others.

"So far in its portfolio, Anicut holds a clutch of 34 start-ups on the debt side and 55 on the equity side," the statement said.

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First Published:Nov 30, 2022 6:03 PM IST