Feb 19: Amicus Capital Fund II has attracted an investment commitment from National Investment and Infrastructure Fund (NIIF), a collaborative investment platform backed by the Government of India, amounting to Rs 207 crore ($25 million).
The funds will be deployed from the NIIF Fund of Funds – I, the first fund under its Private Markets Business (PMF)-I. The PMF-I programme aims to back established and emerging fund managers with a strong track record and institutional mindset, prioritising ESG (environmental, social, and corporate governance) practices.
PMF-I covers key sectors like climate, healthcare, and technology, with commitments to eight complementary funds across growth equity, venture capital, buyout, and credit,. With the latest investments in Amicus Capital Fund II, PMF-I has used 100% of its aggregate capital commitments.
NIIF Backing to accelerate Amicus Capital Fund Raising Momentum
“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 $171 million (~Rs 1,415 crore) as of today,” Mahesh Parasuraman, Partner and Co-founder, Amicus Capital, said.
“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.” Anand Unnikrishnan, Managing Partner – Private Markets, NIIF, said.
Amicus Capital Fund II, with a target to raise $200 million for disbursements, supports tech businesses in sectors like specialty manufacturing, healthcare, and financial services.
NIIF, which manages $4.9 billion across various funds, aims to support India’s growth needs. PMF offers global investors access to India’s private assets market through third-party fund managers and co-investment opportunities.
