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Ritesh Chandra, Managing Partner at Avendus Future Leaders Fund
Financial services firm Avendus Group has announced the first close of its Future Leaders Fund III (FLF III) at Rs 850 crore (about $100 million).
Launched last summer, the fund is registered as a Category-II Alternative Investment Fund (AIF) with the Securities and Exchange Board of India (SEBI) and aims to raise Rs 1,500 crore, with an additional green shoe option of another Rs 1,500 crore.
Investing in 12-14 companies
FLF III plans to invest in around 12 to 14 companies, focusing on sectors such as financial services, health care, technology, consumer goods and manufacturing. The fund expects to invest between Rs 150 crore and Rs 300 crore in each opportunity, positioning itself as a large-cap player in the private market.
Leadership comments
Ritesh Chandra, Managing Partner at Avendus Future Leaders Fund, said, "The commitment to date for FLF III is a testament to the enduring trust our investors place in the strength of FLF's investment strategy and its team. It highlights the significant demand for late-stage private equity as a core component of a balanced alternates portfolio."
Avendus’ earlier funds, FLF I and FLF II, have built a strong track record of backing high-growth, market-leading companies. Notable portfolio names include omnichannel eyewear brand Lenskart, snacks company Bikaji, payments platform Juspay, SBI General Insurance and Sagility Technologies.
FLF I has already returned more than 100% of investor capital in four years, while FLF II was recently fully deployed. Meanwhile, FLF III is on the verge of finalizing its first investment in the healthcare sector, reflecting Avendus’ broader strategy of building a portfolio of consistent compounders.
The fund’s latest move comes at a time when several venture capital firms are also announcing new funds to target India’s next wave of high-potential startups.
Avendus Group's presence
Founded in 1999, Avendus Group is a financial services firm that specialises in investment banking, wealth management, asset management, and credit solutions, focusing on sustainable and long-term growth.
The firm has a presence across India, the US, and Singapore.