NIIF invests USD 25 Mn in Amicus Capital Fund II Amicus Capital Fund II, which has a target size of USD 200 million, aims to support businesses that leverage technology to scale, early in their growth journey, across sectors such as specialty manufacturing, technology and business services, healthcare, financial services and other sectors.
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National Investment and Infrastructure Fund Limited ("NIIF"), a collaborative investment platform anchored by the Government of India has announced a commitment of USD 25 million to Amicus Capital Partners India Fund II ("Amicus Capital Fund II").
The NIIF Fund of Funds - I, the first fund under its Private Markets Business (PMF)-I, provided the funds.
PMF-I intends to support established and emerging fund managers with a strong track record, an institutional mindset and a commitment to follow high standards of Environmental, Social and Governance (ESG) practices in their business.
With commitments to eight complementary funds across growth equity, venture capital, buyout, and credit, PMF-I addresses important sectors like climate, healthcare, and technology. As of the most recent commitment to Amicus Capital Fund II, PMF-I has used 100% of its aggregate capital commitments.
With a target size of USD 200 million, Amicus Capital Fund II expects to support businesses that leverage technology to scale, early in their growth journey, across sectors such as specialty manufacturing, technology and business services, healthcare, financial services and other sectors.
Anand Unnikrishnan, Managing Partner-Private Markets, NIIF, said, "We are delighted to partner with Amicus Capital, under scoring our commitment to backing high-performing fund managers who are executing a well-defined investment strategy in a disciplined manner with a strong team. We believe that the Amicus Capital team has the potential to deliver high returns while driving development in India through their investments and look forward to a successful partnership."
Founded in 2016 by Sunil Theckath Vasudevan and Mahesh Parasuraman, Amicus Capital is an early growth capital fund which is focused on investing in various sectors where the investment team has deep experience and networks, such as financial services, healthcare, technology and business services, and specialty manufacturing. It currently has assets under management of $259 million across two funds.
Mahesh Parasuraman, Partner and Co-founder, Amicus Capital, said, "NIIF's backing, at this juncture, as amongst the largest investors in Amicus Capital Fund II is expected to further enhance our fundraising momentum. Including NIIF's commitment, our second fund has raised USD 171 million as of today. NIIF's expertise and network will be invaluable as we continue to identify and support promising businesses early in their growth cycle."
