Avendus gets 584 crore for future leaders funds II

Financial service major Avendus has announced the closure of the fund with commitments of 584 crore for its Future Leaders Fund. The firms’ Fund I was launched in 2019 with a total corpus of 374 crore. The second fund is targeting to secure 750 crore with a green shoe option of another 500 crore. The fund has a five year tenor with an option to extend it by another two years.

Ritesh Chandra, managing partner, Avendus Future Leaders Fund says, “The idea behind the fund was to be a pool of capital to target market leaders or emerging leaders in a few sectors. We’re focused on three core sectors—digital, consumption and financial services. Idea is to identify leadership assets in these businesses and take equity positions for anywhere between Rs 75-100 crore. We will be investing in 8-10 companies over this time horizon and exiting in 3-4 years.”

Chandra said HNIs and family offices form the bulk of the investor base along with a few institutional investors. He continues, “We believe SaaS is a big opportunity and India has a large role to play in the ecosystem. We are very excited by the B2B SaaS opportunity.”

 Chandra further states that the fund is uniquely positioned to profit from on the strengths of the Avendus ecosystem and participate in the value creation journey. The fund, he adds, has unparalleled access to marquee businesses and deep long-standing relationships with entrepreneurs.

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