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Chadha: Restructuring Debt with Honest Founders Preserves Capital 99% of Time
“Our view is we, on the debt side, if we can avoid litigation, NCLT, bankruptcy, et cetera to do settlements as much as we can, to do restructuring if required, give people, founders more time. If they're good founders, if you haven't funded a fraud you will ge…”
Chadha predicts 1,000x returns will become common in Indian venture investing
“We're gonna see you know, not just in our portfolio, but in general, we're gonna see a thousand X becoming what 10 X and hundred X were in their timeframe. Very soon. So you're gonna see Those kinds of returns are being generated. There's already a few compani…”
Chadha gave written-off personal loans to founders to make payroll
“Personally, for instance, when founders are really struggling unable to make payroll or things like that, you know we've given them a short term loan that effectively we had written off, right?”
Chadha predicts Bira 91 will IPO in India within 5-7 years
“I think that for instance, for me is again, a story for the next five years, seven years I am sure we will see Bira being listed on the Indian markets.”
Chadha: Lendingkart Is Profitable and Will IPO in 2–3 Years
“Lending cart is from initially, you know, losing a lot of money because for running for growth is, you know, tremendously profitable now. So then I think that I, I'm very confident I'll see, we'll see an IPO in the next two, three years as well.”
Chadha: The first and last deals of a VC fund are usually the worst
“And I always kid to our team that usually the first deal is your worst deal. Because you're in a hurry to do it. You want to show this, that first and last deals of a portfolio are ones that you should never back on.”
Chadha: Bank collateral requirements exclude first-generation founders, enabling private debt
“Banks are very limited in what they do and whatever they want to do, they want collateral. First generation founders don't have that flexibility of offering a, you know, large house or legacy property, et cetera.”
Chadha: Building Indian brands takes 10 to 15 years for compounding
“So I, in my view, it takes 1015 years to build brands in India. And if you don't stay the course, right, your compounding doesn't happen.”
Chadha: Early Nykaa exiters missed out on 10x returns
“And they made good money. Maybe, you know, they made three X, four X, but had they stayed for another two years, three years, you know, they would have made a 10 X from them.”
Chadha: Flintobox's 2021 Cashflow Will Multiply Its 2020 Revenue Post-Pivot
“So they pivoted and that company over the last you know, I can say that in the last three months, the cashflow that they're generating is probably going to be more than not three months, but let's say this year, the cashflow that they generate will be more tha…”
Anicut Led a $3M Down Round to Rescue a Restaurant Portfolio Company
“We sort of led a three million dollar round An equity round for them, which was done at a much lower valuation, but you know, that seemed fair at that time, right? So we needed that capital to restart operations.”
Anicut has backed founders from previously failed portfolio ventures
“We've actually backed founders who we had backed in the past and did not have a successful journey.”
Chadha: Early-stage equity must target 25-30% IRRs since only 2 in 10 work
“Whereas in early stage, you know, if you are underwriting to 12, 14%, you're gone because only two of 10 will work, right? So we have to go for the 25, 30% IRRs on the early stage equity side.”
Chadha: Wingreens May Reach 500 Crore Revenue in a Couple of Years
“When we first saw it was a three crore a year business. This year they're already on track to be a two 50 crore a year business, and maybe in a couple of years will be a 500 crore a year business.”
Chadha: Aptus and Five Star Business Finance Will IPO This Year
“Two of our financial services companies are IPO this year. They are Apters and Five Star.”
Chadha: Aptus and Five Star Generate 300–400 Crores in Annual Profits
“Those companies generate north of To 5300 crores, 400 crores of profits every year. So very, very large companies, which will, you know, be valued at, who knows few billion dollars.”
Anicut Capital Manages 1,000 Crores Across Two Credit Funds
“We manage about a thousand crores of capital across two credit funds.”
Anicut Puts 10% to 20% Own Capital in Syndicate Deals
“We actually put 10 to 20% of our own capital in every deal. So it's somewhere between a fund and a pure syndicate model.”
Chadha: Anicut funded its first 30 debt deals off balance sheet
“The first 30 deals we did from our own balance sheet.”
Chadha: Anicut invested in ShareChat via insider bridge round
“There was an opportunity that they had in an internal bridge round that only insiders were doing and we were able to get some allocation there. So that's about a year ago or just about.”
Chadha: Anicut has not sold any shares in ShareChat
“No, no, we have not sold any shares that I think it's too early for us in the journey, but of course it's one of those where, you know, the valuation has gone up significantly since we invested”
Chadha: Wingreens Farms Acquired Raw Pressery and Is Performing Well
“Win Green Farms again, very early you know great company just did an acquisition of Raw Pressery that company is doing really, really well.”
Chadha: Flintobox Sales Dropped to Zero in Q1 2020 Lockdown
“That business effectively went to zero for the first quarter of last year, April, May, June. We had zero sales because logistics were closed. Warehouses were closed.”
Chadha: Anicut Holds Equity Investments Long-Term Until IPO or Acquisition
“We are very long term in nature on the equity bets that we take. So we are very happy to stay the course and eventually exit when, you know, the company is going for an IPO or the founder is ready to sell the business. So on the equity side, we take a very, ve…”
Chadha: Anicut raised 1,000 crores in debt capital without distributors
“And interestingly, Siddharth, we've raised all that thousand crores without a single distributor.”
Chadha: Earth Rhythm reached 1 to 1.5 crore monthly revenue before Anicut's check
“And, you know, all of a sudden she was you know one and a half crore a month direct to consumer brand.”
Chadha: Anicut debt funds delivered 13% to 13.5% net IRR over five years
“Whereas on the debt business, we have delivered something like net of fees for the last five almost five years 1718 quarters. We've delivered about 13, 13 and a half percent net of fees in our funds.”
Chadha: Anicut Backed Wingreens with Both Equity and Debt for Raw Pressery
“So we are early investors in the company on the equity side. And we give them money to get money to finance the acquisition of wrong. So, so we are both on the both sides of the cap table, equity and debt.”
Anicut was the first lender to Sugar Cosmetics before A91 round
“Vinita and Kaushik of Sugar. We invested, we were the first lender to them from the Annika debt fund. And this was before the a-ninety-one round.”