Anicut Capital picks up over $6 million from SIDBI startup fund

Venture debt investor Anicut Capital on Tuesday said it has raised Rs 50 crore (about $6 million) for its equity investments fund from the Small Industries Development Bank of India’s (SIDBI) Fund of Funds for Startups (FFS).

SIDBI is an existing investor in Anicut Capital and has invested in both of its debt funds. The bank had invested Rs 140 crore (about $16.9 million) in Anicut’s second debt fund. The Chennai-based firm will invest in early growth-stage companies as part of its emerging equity-based portfolio of startups, as per a statement.