Senior secured private credit fund research profile
Grand Anicut Fund IV is Anicut Capital’s third private-credit vehicle, focused on secured growth and event-driven financing for mature Indian businesses. It closed at ₹1,275 crore in December 2025. Public transaction records identify debt exposure to Wow! Momo, Resulticks group borrowers and Unico Housing Finance, while the broader 15-company portfolio remains selectively disclosed.
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
Grand Anicut Fund IV uses a senior secured private credit; growth, acquisition and refinancing capital approach across Consumer, SaaS, manufacturing, engineering services.
Current evidence
Grand Anicut Fund IV completed its ₹1,275 crore final close in December 2025. In 2026, public transaction records identified Fund IV debt investments in Wow! Momo Foods, Resulticks group borrowers and Unico Housing Finance.
Strategy
Senior secured private credit; growth, acquisition and refinancing capital
Sector focus
Consumer, SaaS, manufacturing, engineering services
AIF structure context
Indian private credit, venture-debt and special-situations funds are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
Grand Anicut Fund IV completed its ₹1,275 crore final close in December 2025. In 2026, public transaction records identified Fund IV debt investments in Wow! Momo Foods, Resulticks group borrowers and Unico Housing Finance.
Investor questions
Grand Anicut Fund IV is covered in Rupeia's private credit research universe. The current public record describes the strategy as Senior secured private credit; growth, acquisition and refinancing capital, with a sector focus of Consumer, SaaS, manufacturing, engineering 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 Grand Anicut Fund IV in the reviewed public sources: Wow! Momo Foods Private Limited; Resulticks Edge Solutions Technologies Private Limited; Resulticks Digital India Private Limited; Unico Housing Finance Private Limited. It does not represent a complete current portfolio unless the manager has published one.
Anicut reported approximately ₹1,100 crore deployed across 15 companies and two exits at the December 2025 final close, with average exit IRR of about 19%. These are manager-reported gross signals and not audited net vehicle returns. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: ₹1,275 crore final close reported in December 2025; initial target ₹1,000 crore plus ₹500 crore greenshoe.. Public terms or access information: Senior-secured private credit with average cheques around ₹80 crore plus warrants in the reported fund profile; detailed fees, carry, hurdle and distribution terms 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 Ashvin Chadha (Co-founder & Managing Partner); IAS Balamurugan (Co-founder & Managing Partner); Sushant Bhatia (Partner, Private Credit). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review borrower concentration, security and seniority, cash versus accrued income, defaults, recoveries, fund leverage and liquidity. The current open diligence point is: The complete 15-company schedule, vehicle-level fees, carry, NAV and audited net-return data are not publicly disclosed. Wow! Momo, the two Resulticks borrowers and Unico Housing Finance are retained only where public transaction or issuer records identify Grand Anicut Fund IV directly; Anicut’s broader manager portfolio is not substituted..
2026-08-15: Grand Anicut Fund IV completed its ₹1,275 crore final close in December 2025. In 2026, public transaction records identified Fund IV debt investments in Wow! Momo Foods, Resulticks group borrowers and Unico Housing Finance.
Next step
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