Avendus Future Leaders Fund II Announces First Close Of INR 584 Cr The Fund aims to invest in companies in the digital, consumption, and financial services segments

The Fund claims to be 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.

"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 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," said Ritesh Chandra, managing partner, Avendus Future Leaders Fund.

The Fund, a Category-II AIF registered with SEBI, is targeting to raise INR 750 crore with a greenshoe option of another INR 500 crore. The Fund has a 5-year tenor with an option to extend it by another two years.