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Anicut raises $11 Mn via GIFT City Structure for Private Credit Fund 3
Entrackr
·
9m ago
Medial
Alternative investment firm Anicut Capital has announced the receipt of $11 million in dollar-denominated investments via GIFT City Structure in its Private Credit Fund 3. In September last year, Anicut Capital secured an investment of Rs 50 crore from the Small Industries Development Bank of India (SIDBI) for the Anicut Equity Fund. Within the first year of operations, the fund has already invested in six companies including Earth Rhythm, Neemans, Wheelocity, The Ayurveda Experience, Blue Tokai Coffee and XYXX. The investment structure aims at attracting dollar-denominated investments into India from a diverse group of institutional investors, family offices, and high-net-worth individuals (HNIs) from key global markets including the US, UK, Europe, and the Middle East. The funds are raised in the International Financial Services Centres Authority (IFSC), a statutory authority established by the Government of India to facilitate international investments. The funds received via GIFT City Structure feed into the overall corpus of Rs 1,500 crore that Anicut Capital is currently raising for its third private credit fund. In private credit, Anicut claims to have deployed Rs 3,200 crore to date across mid-sized enterprises since inception.
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Anicut Capital gets foreign capital for private credit fund via GIFT City vehicle
VCCircle
·
9m ago
Medial
Anicut Capital, a Chennai-based debt and equity investor, has obtained foreign capital for its private credit fund through a feeder fund based in Gujarat's GIFT City. The feeder fund is registered with the International Financial Services Centre Authority (IFSCA) and is part of the increasing trend of investment vehicles being established in GIFT City. Anicut Capital is currently raising its third debt fund.
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VCs flocking to GIFT City to tap global investment opportunities - The Economic Times
Economic Times
·
1d ago
Medial
Venture capital firms are increasingly setting up in Gujarat International Finance Tec-city (GIFT City) to streamline overseas investments, offering an alternative to offshore hubs like Mauritius. Prominent firms like Blume Ventures and 3one4 Capital have established offices there. While GIFT City presents a beneficial structure for foreign currency funds and tax exemptions, challenges include complex fund setup processes and unclear tax regulations. Despite these, investors find GIFT City a promising hub for India-US corridor investments.
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We Founder Circle’s GIFT city fund raises $10 Mn, onboards 250+ investors
Inc42
·
1y ago
Medial
We Founder Circle's GIFT City Fund has raised $10 million and onboarded over 250 investors. The fund, which aims to close up to 10 deals by the end of the fiscal year, has invested in seven startups so far. The GIFT City Fund leverages innovative financial structures and compliance strategies for cross-border investments. With a target corpus of $30 million, the fund focuses on diversification and capturing high-growth opportunities across various industries. Founded in 2020, We Founder Circle has over 9,000 investors and has made over 100 investments.
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ADIA plans to invest $4-5 bn in India via GIFT City fund
VCCircle
·
1y ago
Medial
Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in UAE, is establishing a $4-5 billion fund to invest in India through a tax-neutral finance hub in Gujarat. ADIA has received in-principal approval from the regulatory authority of Gujarat International Finance Tec-City (GIFT City). This move allows ADIA to become the first sovereign wealth fund to invest in India via GIFT City and strengthens ties between the UAE and India. The funds will be invested over time, and GIFT City offers various benefits, including a 10-year tax holiday and proximity to Indian markets.
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Anicut Capital looks to finish fundraising for debt, equity funds
VCCircle
·
1y ago
Medial
Anicut Capital, a Chennai-based private credit and venture capital asset manager, is in the final stages of fundraising for two of its debt and equity investment vehicles. The firm is expected to close the fundraising for its debt fund, Grand Anicut Fund 4, and an equity fund in the coming months. Anicut Capital focuses on alternative asset management and aims to provide investment opportunities to its clients.
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ADIA starts operations in India's GIFT City finance hub
VCCircle
·
10m ago
Medial
- ADIA, the largest sovereign wealth fund in the UAE, has started operations in India's tax-neutral finance hub, GIFT City. - GIFT City is a financial services hub that offers a 10-year tax holiday and no taxes on funds transfer from overseas jurisdictions. - The UAE is the largest Arab investor in India, with investments amounting to around $3 billion in the last fiscal year. - ADIA had announced its intention to establish a presence in GIFT City in July 2023. - The sovereign fund is setting up a $4-5 billion fund to invest in India through the finance hub.
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Anicut Capital leads Rs 60 Cr round in BlueBinaries
Entrackr
·
12m ago
Medial
Engineering and technology services company BlueBinaries has raised Rs 60 crore ($7.2 million) in a mix of debt and equity round led by Anicut Capital. The proceeds will be deployed towards building its existing customer base of OEM’s and tier I automotive suppliers across geographies, enhancing SDV and digital capabilities, BlueBinaries said in a press release. Co-founded in 2017 by Srinivas Aravapalli and Kishore LM, BlueBinaries focuses on accelerating the development of software defined vehicles (SDVs) with E/E Architecture design & development services and Digital technologies like cloud, Devops, AI/ML, cyber security and IOT solutions for its customers. According to market research, the automotive electronics and software market is expected to grow to over $80B by the end of 2030. According to the Chennai-based company, it serves a diverse customer base in Europe, UK, USA and APAC. The platform aims to deliver cutting-edge technological solutions and services for the mobility industry. As per media reports, Anicut Capital is in the process of raising its third credit fund with a target corpus of Rs 1,300-1,500 crore. The firm is also on the verge of closing its first debt fund under the GIFT City structure.
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Artha Global Opportunities Fund plans PE, credit, global strategies after windfall gains
VCCircle
·
2m ago
Medial
Artha Global Opportunities Fund, having moved its base to Gujarat’s GIFT City, plans to enhance its investment strategies following significant gains. Originally concentrating on distressed assets and special situations, the fund intends to diversify its mandate by incorporating new strategies like private equity, credit, and global investment, aiming to expand its assets under management. This strategic shift highlights the fund's commitment to growth and adaptation in changing markets.
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Axis AMC raises $86 mn for second private credit fund, undershoots target
VCCircle
·
2m ago
Medial
Axis Asset Management Company (Axis AMC) has raised $86 million for its second private credit fund, Axis Structured Credit AIF II, falling short of the Rs 1,250-crore hard cap. Registered in January 2023, this Category-II alternative investment fund secured commitments from institutional investors, insurance companies, and high-net-worth individuals. With 65% of the fund already deployed, Axis AMC aims for full deployment by July 2024, planning a follow-on fund thereafter. This marks the firm's second private credit venture.
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Azim Premji's wealth fund gets nod to set up shop in GIFT City
VCCircle
·
1y ago
Medial
Billionaire Azim Premji's wealth fund has received approval to establish a family investment fund in India's Gujarat International Finance Tec-City (GIFT City). This move allows the fund to invest overseas without regulatory approval. GIFT City, a financial hub in Prime Minister Narendra Modi's home state, has been implementing initiatives to attract foreign brokers and companies. Premji's family office declined to comment. The fund has $10 billion in assets, with the proposed GIFT entity planning an initial investment of $200 million. Approximately 80 funds with $24 billion in commitments have been set up in GIFT City.
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