Amicus Capital Achieves First Close of Second Fund with $146 Million

India-focused growth capital fund Amicus Capital on Wednesday announced the first close of its second fund at $146 million ( INR121.5 billion).

The fund will invest between $10 million and $30 million each in 10 to 12 middle-market companies across five major sectors: financial services, consumer, healthcare, technology and business services, and specialty manufacturing, according to a company statement. The plan is to do so.

Prominent participants in the second fund include the European Investment Bank, US International Development Finance Corporation, Self-Reliant India (SRI) Fund, HDFC Fund of Funds, major domestic insurance companies and financial institutions, family offices and HNIs from around the world. I’m an investor. .

“Their participation will give Amicus Capital a boost in supporting middle-market companies in India,” Sunil Tekkas Vasudevan, co-founder and partner at Amicus Capital, said in a statement.

This completion will move the second fund towards final completion by the end of the year, according to the statement. “Digitalization” and “market access” refer to penetration into second-tier cities and above, and are the fund’s main investment themes.

Mahesh Parasuraman, co-founder and partner at Amicus Capital, said: “The fund is strongly committed to ESG with the aim of building resilient businesses that deliver long-term sustainable returns for our stakeholders. “There is,” he said.

So far, Amicus Capital has a portfolio of 12 companies, including RenewBuy.com, Wonderchef, Altum Credo Home Finance, Capital SFB, mCaffeine, and more.

Founded in 2015, the private equity firm manages funds worth $88 million, with commitments from large European family offices and multilateral institutions. Announced approximately $90 million in funding ( INROne year later, $600 million as the first close of a $200 million fund).

Mr. Parasuraman was previously Managing Director of Carlyle India Advisors, a global investment firm, and held several positions in Tirumala Milk Products, Repco Home Finance and Newgen Knowledgeworks. Advised on the transaction. Ltd, Edelweiss Financial Services, South Indian Bank.

Vasudevan was part of the investment team at ICICI Venture Funds. He then became a co-founding partner of private equity firm TrueNorth (formerly known as his India Value Fund), during which he raised a total of $1.2 billion across four funds.