Avendus Future Leaders Fund Makes Its Maiden Investment in Bikaji Foods
Avendus Future Leaders Fund – I (FLF), a SEBI registered category II Alternative Investment Fund (AIF), under the umbrella of Avendus Asset Management, has taken a minority stake in Bikaji Foods International Limited, one of India’s leading ethnic snacks company. FLF, through a secondary transaction, purchased a part of the stake held by two existing investors - Lighthouse and Intensive Softshare.
Bikaji
Bikaji Foods International Limited was founded in 1987 at Bikaner, Rajasthan by Shri Shiv Ratan Agarwal. Over the years, it has emerged as one of the largest manufacturers of branded Indian ethnic snacks with an extensive product range (including bhujia, namkeen, sweets, papad and western snacks) and has established a national distribution footprint.
FLF focuses on investing in ‘best of breed’ market leading, late stage private companies in the consumer and financial services segments. The Fund aims to explore opportunistic investment situations in emerging market leaders.
FLF plans to raise INR 500 crore from individual and institutional investors. The Fund, in its life cycle is targeting to invest in 8 to 10 companies with an average investment size of INR 40-75 crore.
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