Alternative asset management firm Anicut Capital has launched the Grand Anicut Seed Fund (GASF), its second early-stage investment vehicle, with a target corpus of Rs 175 crore and a greenshoe option of Rs 75 crore, reinforcing its commitment to backing India’s growing startup ecosystem.
The fund will invest in more than 20 startups spanning the pre-seed to Series A stages across deep-tech, enterprise tech, consumer and financial services. Anicut Capital plans to invest Rs 5-8 crore in each startup and is targeting a first close soon, the company said in a statement on July 29.
The fund’s limited partner base is expected to comprise institutional investors, high-net-worth individuals (HNIs), and domestic and international family offices. The company said it has already begun deploying capital and has closed three investments.
The launch of the new fund reflects sustained investor confidence in India’s early-stage startup ecosystem, where venture capital firms are increasingly backing innovative founders at the earliest stages to help build scalable businesses across high-growth sectors.
“Our early-stage investment strategy has been validated through our previous fund, Grand Anicut Angel Fund, which is currently tracking materially ahead of relevant benchmarks and has backed several category-defining companies. With our second fund, we aim to build on this proven strategy by partnering with exceptional founders in their 0-to-1 journey,” said Ajay Anand, Partner at Anicut Capital.
Since 2021, Anicut’s Grand Anicut Angel Fund has invested in 68 startups from the pre-seed to pre-Series A stages. According to the company, these portfolio companies have collectively raised more than Rs 6,000 crore in follow-on funding and achieved 10x revenue growth since Anicut made its initial investments.
The firm’s portfolio includes startups such as Agnikul Cosmos, GIVA, Blue Tokai Coffee Roasters, Snapmint, CapGrid and Galaxeye, highlighting its focus on identifying high-growth businesses across multiple sectors.
With the launch of the Grand Anicut Seed Fund, Anicut Capital plans to expand its early-stage investment portfolio by supporting promising founders from the idea stage through growth, while continuing to strengthen its presence in India’s venture capital ecosystem.
