New Delhi, July 30 -- Chennai-headquartered Anicut Capital, which operates as a multi-asset, sector-agnostic alternative investment firm, has roped in a new partner from alternative investment firm RevX Capital to beef up its private credit business, VCCircle has learned.

Anicut Capital, which made the final close of its Grand Anicut Fund IV in December last year at Rs 1,275 crore ($142 million then), has appointed Sushant Bhatia as a new partner to its private credit team.

Bhatia joins after more than three years at RevX Capital, where he served as senior director-investments and was among the firm's earliest employees. He helped build the investment team and processes and deployed over Rs 2,000 crore (around $209 million) in structured debt across SMEs, mid-market companies, NBFCs and fintech firms, with cheque sizes of up to Rs 100 crore.

Before RevX Capital, Bhatia spent nearly seven years at impact investment firm Caspian, where he led venture and SME debt investments and worked on blended finance products for social enterprises and ESG-focussed businesses.

In the past, he has also held roles at Fincare Small Finance Bank and currently serves on the investment committee for the Startup India Seed Fund managed by Siddaganga Incubation Foundation, which supports startups from tier-II and tier-III cities.

Chennai-headquartered Anicut Capital is a multi-asset alternative investment firm that invests across debt and equity strategies through six alternative investment funds. Its portfolio includes companies such as Milky Mist, The Ayurveda Experience, Wow! Momo, Mistral, Blue Tokai, XYXX, ToneTag, GNRC Hospital, Neemans and Agnikul.

Besides its private credit business, Anicut Capital also operates venture capital-style funds focussed on early-stage and growth investments. Earlier this week, the firm launched a Rs 175-crore early-stage seed fund to back startups from the seed to pre-Series A stages. The Category I AIF writes cheques of up to $1 million and follows a hybrid investment model that combines institutional capital with an angel investor network.

Published by HT Digital Content Services with permission from VC Circle.