Avendus Finance Lends Structured Debt of Inr 630 mn to Ad2pro Group.

Avendus Finance, the credit solutions arm of Avendus Capital, and Avendus Structured Credit Fund (AIF) have together provided structured debt of Rs. 630 million to promoters of Ad2Pro Media Solutions Private Limited (“Ad2Pro Group”), a global marketing services company. Funds provided by Avendus are being used by the promoters to buy out the stake of VenturEast, an India-based venture capital fund. Ad2Pro Group is now embarking on the next stage of accelerated growth, after having established a robust creative services platform with the initial venture funding.

Avendus Finance, the primary lender for this transaction and a subsidiary of Avendus Capital, was set up in November 2016. It is in the business of offering customized structured credit solutions/mezzanine capital to high quality mid-market firms in its chosen industry segments. In a short span of one year it has underwritten credit amounting to INR 8 bn across healthcare, industrials, education and IT/IT enabled businesses and as a result is counted among the top players in the structured credit segment in the country.

Given the market opportunity and the firm’s superior origination skills, Avendus Finance expects to grow the balance sheet to INR 20 bn next year. The focus of the firm would continue to be mid-market companies looking for highly flexible capital to realize full value and potential of their businesses.