Avendus Capital Advises VerSe Innovation on Its USD 805 mn Raise

We are privileged and honoured to have prominent and stellar long-term partners like CPP Investments, Ontario Teachers', Luxor Capital on board with us. This partnership will strengthen our ability and leadership to deliver on our vision to build the largest AI powered local language content platform across a family of apps serving the next billion users. With a strategic focus on video content and building for India, we have seen explosive growth emerging from the next billion users coming out of regional India. This investment comes at a time when we’re on a path to further expand our offerings, monetization models, deliver superlative Web 3.0 experiences for the globe and create an IPO scale business.

India’s digital content is experiencing phenomenal growth and VerSe Innovation is well-positioned to be one of the leaders in the fast-growing short video and local language content space,

This investment aligns with our approach of providing strategic capital to industry leaders in India’s technology sector. We look forward to supporting the next phase of VerSe Innovation’s growth journey, which we believe will deliver strong risk-adjusted returns for the CPP Fund.

We are pleased to make a significant investment in VerSe Innovation through our new Alternative Capital Solutions team, which offers flexible capital to high-quality public and private growth companies. We have been impressed by the company’s innovative local language offerings, market leadership and strong management team, and are excited to be partnering with them in this journey as Ontario Teachers’ continues to build out its portfolio in India.

We’re ecstatic about partnering with Viru and Umang on yet another industry-defining transaction, as VerSe continues on an explosive growth journey with its family of apps ecosystem. The partnership with some of the largest, high quality long-term fundamental investors is a great testament to the clear market leadership they have established across categories as they set out to dominate all things local language (advertising, e-commerce,
live streaming, NFTs and more) across a massive monetizable user base.