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Bengaluru-based private equity firm Amicus Capital Partners has marked the final close of its second fund at $214 Mn (around INR 1,800 Cr), exceeding its initial target of $200 Mn (around INR 1,700 Cr).

The Amicus Capital Partners India Fund II is a category II Alternative Investment Fund (AIF) registered under the Securities and Exchange Board of India (SEBI). It was launched in March 2023 with an aim to back small and medium-sized private companies.

“…The fundraise exceeded our initial target of $200 Mn is a testament to the trust our investors have placed in us. We are grateful to all our investors, as well as everyone who has worked to get us here…,” Amicus Capital cofounder and partner Mahesh Parasuraman said in a LinkedIn post.

Inc42 has sent queries to Amicus Capital Partners. The story will be updated upon receiving responses.

Founded in 2016 by Parasuraman and Sunil Theckath Vasudevan, Amicus has backed 14 companies which includes the likes of Aequs, mCaffeine, MoEngage and Wonderchef, among others. It currently has assets under management of $302 Mn.

Among Fund II’s backers include India’s quasi-sovereign fund National Investment and Infrastructure Fund Limited (NIIF), which committed INR 207 Cr.

The development comes at a time when a clutch of PE and venture capital firms have announced India-foussed funds this year.

According to Inc42’s ‘Indian Tech Startup Funding Report, Q1 2025,’ 23 funds have been launched worth over $3.2 Bn in the March quarter.

For instance, Alternate Asset Management Multiples also marked the final close of its $430 Mn continuation fund in one of India’s largest-ever portfolio transactions in private equity space.

This month, Physis Capital, a venture capital firm launched by the founders of Inflection Point Ventures, raised over INR 200 Cr part of their INR 400 Cr maiden fund. Campus Fund also announced the launch of its $100 Mn fund to back student-led startups.

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