The business and industrial landscape of India is undergoing a massive transformation, powered by the passion and energy of technology entrepreneurs. Traditional inefficient industries are also being swept by digital and technology disruptions. Driven by the power of the internet and smartphone base in urban and rural areas and combined with a surge in the technology talent pool in the country, industries in India are leapfrogging generations to create significant value over the next decade and beyond.
Avendus Capital's Digital & Technology practice focuses on businesses that leverage technology to facilitate increased engagement of consumers and enterprises within their ecosystems.
The firm has extensive experience working with market leaders across the digital and technology landscapes. Avendus has partnered with entrepreneurs through their growth curves and contributed in creating large economic outcomes. Our deep domain knowledge coupled with the largest and most engaged global network of investors, corporates and institutions allows us to deliver innovative solutions and stellar outcomes for our clients across our core service offerings – private equity (PE) & Venture Capital (VC) syndication and mergers and acquisitions (M&A) advisory. The firm has successfully closed over 75 transactions worth USD 4 billion in the past few years.
Sub-Sectors in Focus
Our mergers and acquisitions (M&A) advisory and private equity (PE) syndication services are recognized as amongst the best in these chosen sub-sectors.
- Consumer internet and mobile businesses: e-commerce, online services, e-commerce enablers
- Payments and financial technology businesses
- Digital content & entertainment and digital advertising technology
- Enterprise software, SaaS and technology platforms
- Communication and networking technology
Led By
Karan Sharma
Managing Director and Co-head, Digital & Technology, Avendus Capital
Karan Sharma co-heads the Digital and Technology vertical for Avendus Group’s investment banking business and is based in Mumbai. A pioneer in advising tech start-ups, Karan has over 15 years of experience working with some of India’s leading digital and technology companies, successfully closing over 60 private equity transactions and mergers & acquisitions. His areas of focus include consumer internet, payments, finance and enterprise technology.
Prior to joining Avendus, Karan worked with Cipher Capital, a boutique investment bank. During his four-year stint with the firm, he was responsible for building the firm’s internet and technology practice. Before Cipher, he worked with JP Morgan Chase.
Karan holds an MBA degree from Mumbai University and has done his Bachelor of Commerce from Delhi University. He has authored/co-authored various industry pioneering reports and whitepapers on the Indian technology ecosystem and regularly speaks at leading industry forums.
Pankaj Naik
Managing Director and Co-head, Digital & Technology, Avendus Capital
Pankaj Naik co-heads the Digital and Technology vertical for Avendus Group’s investment banking business and is based in Mumbai. He is a seasoned investment banker with 23 years of experience in M&A advisory, private placements, leveraged finance and capital markets. While he has a deep understanding of the technology, consumer internet and media sectors, he is also well-versed with IT services, infrastructure, and other diversified industries.
Prior to joining Avendus, Pankaj worked with JP Morgan’s investment banking team for over 11 years, where he led several marquee transactions amounting to over USD 10 billion across various industries. Before JP Morgan, he worked with DSP Merrill Lynch’s investment banking team for 4 years.
Pankaj holds an MBA degree from IIM, Calcutta and a Bachelor of Engineering degree from Government College of Engineering, Pune. He is a regular speaker at leading industry events focused on internet technology.
Neeraj Shrimali
Managing Director and Co-head, Digital & Technology, Avendus Capital
Neeraj Shrimali co-heads the Digital and Technology vertical for Avendus Group’s investment banking business and is based in Mumbai. Over the last 15 years, Neeraj has played a pivotal role in advising and shaping the Indian tech start-up ecosystem.
Neeraj has established himself as a trusted advisor to some of India’s leading digital and technology companies, including unicorns. He has successfully led over 60 transactions across sectors such as consumer internet, online services, e-commerce, travel, content and gaming.
Prior to joining Avendus, Neeraj has worked with Cipher Capital, a boutique investment bank. During his six-year stint with the firm, he was responsible for building the firm’s niche industrial technology practice.
Neeraj holds an MBA degree from IBS Hyderabad and a Bachelor of Commerce degree from DAVV University, Indore. He has authored/co-authored numerous reports and whitepapers on the Indian technology ecosystem.
Transactions
Reports
ESG‘s emerging role in Capital Markets
While ESG as a theme has already gained relevance in the global capital markets, it is set to become a key decision-making parameter for Indian Equity Capital Markets, contributing to ~34% of the total domestic AUM by 2051. This growth is expected to be driven by ESG focused sectors such as Renewable Energy, Electric Vehicles, Green Hydrogen and Climate Tech, among others.
Cloud Services 3.0: A USD 160 Bn Market Opportunity by 2026
Cloud has evolved into its third growth phase, maturing from a cost-effective proposition to a business transformation lever. Enterprise focus has shifted from mere lift and shift migration to building cloud-native architectures to achieve higher business value gains from cloud adoption initiatives. The total marketable opportunity for cloud service providers is projected to reach USD 160 billion by 2026, with 20+ pure-play players expected to cross USD 100 million in revenues. Dive into the trends, initiatives, benchmarking and deal momentum.
AI and Analytics: A USD 100 Bn Marketable Opportunity
The AI and Analytics services market is expected to double by 2026, despite a lack of AI talent. An exponential growth in data volume is driving analytics adoption, and relentless breakthroughs in AI have made it an invaluable tool for any company. Learn about the factors driving growth in this space and our expectations for pure-play players.
Consumer Health and Wellness: A Shift From Elective To Essential
The consumer health and wellness sector in India is poised for exponential growth, driven by rising awareness, focus on preventative care and integration of data and AI. India is adapting to global consumer wellness trends, wherein clean label snacks have grown from 11% in 2017 to 19% in 2021 and the plant based protein market is expected to grow at a CAGR of 19% by 2027. Learn all about the decade for health and wellness in India.
Cybersecurity Services: A key to sustainable global digital disruption
The cybersecurity services market has evolved beyond traditional firewall protection managed services to advanced holistic solutions like Cloud security, DevSecOps, Endpoint Security and AI based threat detection. Cybersecurity spend has reached USD 187 billion in 2021 and is expected to grow at a 2021-2028 CAGR of 11.1%. Learn what is driving this rate of adoption.
Data Centres: Powering Digital India
India's data centres market is expected to lead the next wave of Real Assets investments by growing at a CAGR of ~40% - highest in the Real Assets space - to ~1,700 MW capacity by 2025, on the back of investments worth USD 5 billion during this period. Learn about the key drivers leading to the success of Data Centres in India while taking a deep dive into the return dynamics, investor interest and market landscape.