Anicut Capital closes $142 million private credit fund Grand Anicut…

Team S · 2025-12-29T12:17:57.000Z

Anicut Capital, a Chennai-headquartered alternative investment firm, has completed the final close of its third private credit vehicle, Grand Anicut Fund IV, at ₹1,275 crore (approximately $142 million), surpassing its original target of ₹1,000 crore. The fund includes a GIFT City dollar-denominated feeder structure that enables participation from global investors in India’s burgeoning private credit market, reflecting strong confidence in structured capital solutions for growth-stage businesses. Since its first close, Anicut Capital has already deployed significant capital through the fund, backing 15 companies across sectors such as consumer, engineering services, SaaS, manufacturing, hospitality and shipbuilding, with average cheque sizes of approximately ₹80 crore. The fund has also completed two exits, generating an average internal rate of return (IRR) of about 19 percent for early investors. The close of Grand Anicut Fund IV brings Anicut Capital’s total assets under management to roughly ₹4,500 crore across a mix of debt and equity funds, solidifying the firm’s role as one of India’s prominent private credit and alternative asset managers. Anicut Capital’s strategy focuses on non-dilutive structured credit for scalable Indian enterprises, often partnering with established promoters and supporting businesses navigating growth without traditional equity dilution. #privatecredit #fundraising #AnicutCapital #GrandAnicutFundIV #structuredcredit #India #debtfunds #investing

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Anicut Capital closes $142 million private credit fund Grand Anicut… | Newnex