Alternative asset management firm Anicut Capital on Monday announced an $11 million capital injection through GIFT City Structure into its Private Credit Fund 3. The company said the investment structure aims to attract investments denominated in dollars in India from a group of institutional investors, family offices, and high net worth individuals (HNIs) from global markets including the US, UK, Europe and the Middle East.

Funds are collected from the International Financial Services Centers Authority (IFSC), a statutory authority established by the Indian government to facilitate international investments.

Anicut said that in the private credit space, its focus was on filling the financing gap for needs such as acquisitions, developer buyouts, bridge financing and other growth capital needs.

7th Pay Commission: Central government civilian pensioners to get 25% increase in THIS key allowance with DA at 50% of basic salary

Transaction limits for UPI 123Pay, UPI Lite increased

Top 5 PFR Equity Mutual Funds with Annualized Returns of up to 34% in 5 Years

India’s UPI expands digital payment reach to the Caribbean: Trinidad and Tobago leads the charge

The funds raised through GIFT City Structure are in addition to the overall corpus of Rs 1,500 crore that the company is currently raising for its third private credit fund. In the private credit space, Anicut has invested Rs 3,200 crore so far in mid-sized companies since its inception.

Speaking on the fundraising, Ashvin Chadha, Managing Partner at Anicut Capital, said the funds received through the GIFT City structure highlight the confidence of global investors in Anicut.

“We are committed to generating strong returns by providing customized credit solutions to mid-market businesses, leveraging our industry expertise to create value for both investors and businesses,” Chadha said.

Anicut currently manages six funds, including three debt funds and three equity funds with total active assets (assets under management) of Rs 3,500 crore. Its portfolio companies include The Ayurveda Experience, Wow! Momo, Bira, Blue Tokai, XYXX, Neemans, Agnikul, etc.