Early-growth and growth equity fund research profile
Amicus Capital Partners India Fund II is an India-focused Category II growth-equity vehicle managed by Amicus India Capital Partners LLP. It targets profitable, capital-efficient middle-market businesses using digitalisation and market-access themes, with public evidence tying Aequs, Equirus Capital and Manipal Payments & Identity to Fund II.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Amicus Capital Partners India Fund II uses a early-growth and growth equity approach across Financial services, consumer, healthcare, technology services.
Current evidence
Amicus Capital announced the final close of Fund II at approximately $214 million / ₹1,766 crore on 20 June 2025 and stated that Aequs, Equirus Capital and Manipal Payments & Identity were Fund II investments.
Strategy
Early-growth and growth equity
Sector focus
Financial services, consumer, healthcare, technology services
AIF structure context
Indian private equity, growth, buyout and many real-asset strategies are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
Amicus Capital announced the final close of Fund II at approximately $214 million / ₹1,766 crore on 20 June 2025 and stated that Aequs, Equirus Capital and Manipal Payments & Identity were Fund II investments.
Investor questions
Amicus Capital Partners India Fund II is covered in Rupeia's private equity research universe. The current public record describes the strategy as Early-growth and growth equity, with a sector focus of Financial services, consumer, healthcare, technology services. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to Amicus Capital Partners India Fund II in the reviewed public sources: Aequs, Equirus Capital, Manipal Payments & Identity. It does not represent a complete current portfolio unless the manager has published one.
The manager reports Fund II’s first close at $146 million in January 2024 and final close at approximately $214 million in 2025. Fund-level realised returns and DPI are not publicly disclosed. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Approximately $214 million / ₹1,766 crore final close, announced June 2025.. Public terms or access information: Growth capital of approximately $12–35 million per investment across 10–12 high-growth, profitable and capital-efficient businesses; final fees, carry, tenor and reserve policy are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Sunil Theckath Vasudevan (Partner and Co-founder); Mahesh Parasuraman (Partner and Co-founder). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review entry valuation, leverage, governance rights, concentration, execution of the value-creation plan and exit timing. The current open diligence point is: Fund II’s complete portfolio, vehicle-level fees, carry and net returns are not publicly disclosed; the three named investments are directly identified in the manager’s 2025 final-close announcement..
2025-06-20: Amicus Capital announced the final close of Fund II at approximately $214 million / ₹1,766 crore on 20 June 2025 and stated that Aequs, Equirus Capital and Manipal Payments & Identity were Fund II investments.
Next step
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