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 21 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.
Transactions
Reports
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.
B2B Marketplaces: Revolutionizing the Indian B2B commerce supply chain
With less than 1% tech penetration, India’s B2B trade presents a USD 2 trillion+ opportunity that is yet to see meaningful disruption. According to our latest report, tech-enabled B2B marketplaces are expected to drive USD 125 billion+ commerce by 2027, growing at c.45% CAGR over the next 5 years. We bring you a deep dive into the B2B commerce value chain in India, including key players, success drivers and other defining trends that we expect to play out in the future.
MSME Lending: Unlocking potential, Realizing Dreams
There exists a whitespace in the form of a USD 120 Bn+ funding deficit in the small ticket MSME lending segment, providing the potential for a deal flow of c. USD 15 Bn over the next decade. As this segment enters a virtuous cycle, nimble, specialized NBFCs with differentiated business models have the right to win and the potential to generate 20% ROEs sustainably.
Energy transition and clean energy investment in India
Investment interest in the Indian energy transition sector swelled in 2022, despite the global economic slowdown. The sector is going to undergo a sea change over this decade with companies investing into several emerging businesses focused on decarbonisation. This presents an annual investment opportunity of over USD 25 billion.
Quality Assurance 3.0
Traditional software testing has a new avatar - Quality Assurance 3.0! Spurred by a growth in emerging technologies, evolving customer expectations, and rapid digital transformation, the USD 40 billion global Digital QA market is projected to grow to USD 70 billion by 2030. Winners are making huge crossovers to deliver the requirements of new-age customers, enabled by cutting-edge technologies and digital-native talent. Our report provides insights into critical elements which have been shaping the Quality Assurance industry.
Retail Health Insurance - A Large Whitespace
This segment has the potential to become a USD 25 billion market in the next five years. Our report aims to identify the key factors which make Health Insurance a highly attractive segment and delves into how Retail Health is expected to be a key growth driver within the overall insurance landscape.