In the Private Credit Fund 3, Alternative investment firm Anicut Capital has announced the receipt of USD 11 million in dollar-denominated investments via GIFT City Structure. Last year, in the September month, Anicut Capital successfully secured an investment of INR 50 crore from the Small Industries Development Bank of India (SIDBI) pertaining to the Anicut Equity Fund.

Furthermore, the fund has already invested in six companies including Earth Rhythm, Neemans, Wheelocity, The Ayurveda Experience, Blue Tokai Coffee and XYXX within the first year of operations.

The investment structure has been focused towards attracting dollar-denominated investments into India from a diverse group of institutional investors, family offices, and high-net-worth individuals (HNIs) across key global markets which include the US, UK, Europe, and the Middle East.

The funds are being raised in the International Financial Services Centres Authority (IFSC), which is a statutory authority incepted by the Government of India to steer international investments.

Also to note, the funds received via GIFT City Structure concentrated into the overall corpus of INR 1,500 crore, which Anicut Capital is raising for its third private credit fund currently. And if we look at the private credit, Anicut says that it has deployed Rs 3,200 crore to date across mid-sized enterprises since inception.