19th August 2021 | Mumbai | Asset Management
Avendus Future Leaders Fund II (‘the Fund’), announced its first close with aggregate commitments of INR 584 crore.
The Fund is focused on investing in privately held, scaled up market leaders/emerging leaders. As the ecosystem around us is rapidly changing, India is witnessing the emergence of new companies led by dynamic entrepreneurs focused on delivering world class products and services. The Fund seeks to back such companies and entrepreneurs by investing in small minority stakes in their businesses. The Fund aims to invest in companies in the digital, consumption and financial services segments.
The Fund seeks to leverage Avendus’ industry expertise, network, relationships and market leadership to invest behind ‘best in breed’ companies. The first series of the Fund – Avendus Future Leaders Fund I, was launched in 2019 and has investments in – Lenskart Solutions, Delhivery, VerSe Innovation, Bikaji Foods, National Stock Exchange and Ujjivan Small Finance Bank.
We are also very pleased and grateful that a majority of the large first fund investors have reposed their faith in our investment strategy, and have upsized their investments in the Fund. The Fund has also received a very enthusiastic response from several large family offices.
The Fund, a Category-II AIF registered with SEBI, is targeting to raise INR 750 crore with a green shoe option of another INR 500 crore. The Fund has a 5-year tenor with an option to extend it by another two years.
Ritesh Chandra, Managing Partner, Avendus Future Leaders Fund said, “Avendus is at the forefront of working with emerging leaders that are creating great businesses in India. The Fund is uniquely positioned to capitalize on the strengths of the Avendus ecosystem and participate in the value creation journey. With an unparalleled access to marquee businesses and deep long-standing relationships with entrepreneurs, the Fund seeks to invest behind market leaders and emerging leaders in the digital, consumption and financial services segments. We are thankful to all investors who continue to repose their confidence in us, and we look forward to partnering with some great businesses going forward.”
Avendus Group is a leading provider of financial services with an emphasis on differentiated solutions in the areas of Investment Banking, Wealth Management, Credit Solutions and Asset Management. Avendus relies on its extensive experience, in-depth domain understanding and knowledge of the regulatory environment, to offer customized solutions that enable clients to meet their strategic aspirations.
Established in 1999 in Mumbai, India, Avendus Group’s presence in 10 cities across India, US, UK and Singapore brings together global perspectives and equips our inter-country teams with the expertise to handle complex business requirements of ambitious entrepreneurs. For more information, please visit https://www.avendus.com