National Investment and Infrastructure Fund Limited (NIIF) has announced a commitment of Rs207 crore ($25 million) from NIIF Fund of Funds – I, the first fund under its Private Markets business to Amicus Capital Partners India Fund II.
With a target size of $200 million, Amicus Capital Fund II expects to support businesses that leverage technology to scale, early in their growth journey, across sectors such as speciality manufacturing, technology & business services, healthcare, financial services and other sectors, stated a release from NIIF.
NIIF, an investment platform anchored by the Government of India, manages over $4.9 billion of equity capital commitments across its four funds – Master Fund, Private Markets Fund, Strategic Opportunities Fund, and India-Japan Fund.
“We are delighted to partner with Amicus Capital, underscoring our commitment to backing high-performing fund managers who are executing a well-defined investment strategy in a disciplined manner with a strong team,” said Anand Unnikrishnan, Managing Partner – Private Markets, NIIF.
“NIIF’s backing, at this juncture, as amongst the largest investors in Amicus Capital Fund II is expected to further enhance our fundraising momentum,” said Mahesh Parasuraman, Partner and Co-founder, Amicus Capital.
Including NIIF’s commitment, Amicus’ second fund has raised $171 million (Rs1,415 crore).
Amicus Capital is an India-dedicated early growth capital fund set-up by experienced PE professionals, Sunil Theckath Vasudevan and Mahesh Parasuraman. The Firm currently has assets under management of $259 million across two funds.
