New fund · Professional & Local Services

Anicut Capital launches second seed fund

By Startup Enthusiast · 29 July 2026

What they do

Anicut Capital is an alternative investment firm managing over Rs 3,500 crore in assets

It launched Grand Anicut Seed Fund with a target corpus of Rs 175 crore and a greenshoe option of Rs 75 crore

The fund has already committed capital to three startups and aims to invest in around 20 companies

Anicut Capital launched its second dedicated early-stage investment fund, the Grand Anicut Seed Fund.
The fund has a target corpus of Rs 175 crore with a greenshoe option of Rs 75 crore, allowing a total of up to Rs 250 crore.
It is registered with SEBI as a Category I alternative investment fund.
The fund plans to invest in more than 20 startups at stages from pre-seed to Series A.
Focus sectors include deeptech, enterprise technology, consumer businesses, and financial services.
Initial investment per company will be Rs 5 crore to Rs 8 crore.
The fund has already committed capital to three startups, though their names are not disclosed.
Partner Ajay Anand expects to secure the first close of about $10 million, possibly announced in August 2026.

Anicut's previous early-stage vehicle, Grand Anicut Angel Fund, performed ahead of benchmarks.
That fund invested in 68 companies since 2021, which collectively raised over Rs 6,000 crore in follow-on funding.
Those 68 companies recorded a tenfold increase in combined revenue since initial investments.
The new fund uses a blind-pool structure, unlike the earlier fund which allowed deal-by-deal participation.

Anicut Capital is an alternative investment firm founded in 2015.
It manages over Rs 3,500 crore in assets across private credit, seed, growth equity, and late-stage equity.
Its portfolio includes startups in SaaS, consumer, fintech, logistics, and deeptech.
Recently, it invested in Wow! Momo in a debt round.
The Grand Anicut Angel Fund portfolio includes Agnikul Cosmos, GalaxEye, GIVA, Blue Tokai Coffee Roasters, Snapmint, CapGrid, E-Plane, InspeCity, Leumas, Neeman’s, and Grip Invest.

The fund targets its first close soon, with commitments from institutional investors, HNIs, and family offices in India and overseas.
It aims to invest in 10 startups by the end of FY2026-27, including the three already agreed.
About 70% of the fund will go to new investments, and 30% for follow-on rounds.
Money will be deployed over three years: main portfolio in the first two years, follow-on investments in the third.