Investment platform Canonicus Capital has raised nearly $21 million (Rs 192 crore) in the first close of its Special Situations Fund, which is targeting Rs 500 crore.
Launched in 2025, the fund is the firm’s second investment vehicle. Canonicus Capital had raised and deployed Rs 311 crore through its maiden fund, taking its cumulative fundraising across the two funds to Rs 503 crore, per an Entrackr report.
The firm plans to deploy the capital in select opportunities across the National Capital Region (NCR), focusing on businesses and projects that face capital constraints, governance gaps or execution challenges, the report added.
Canonicus Capital follows an execution-led investment approach, combining disciplined underwriting with on-ground engagement through the investment lifecycle.
The firm’s international fundraising programme, which included roadshows in the Middle East and Singapore, was temporarily paused due to the West Asia conflict. It plans to resume investor outreach as conditions improve.
Meanwhile, Canonicus Capital has promoted Rajan Gupta to managing director. Gupta played a key role in the latest fundraise and will continue to lead the firm’s fundraising initiatives, investment strategy, and execution, according to the report.
