Avendus Capital makes first close at Rs.850-Cr in Future Leaders Fund III

Mumbai-headquartered Avendus Capital Pvt Ltd has achieved its first close of the Future Leaders Fund III (FLF III), raising INR 850 crore in commitments.The fund aims to raise INR 1,500 crore, with an additional green shoe option of INR 1,500 crore. It will invest in about 12 to 14 startups, with an average ticket size of INR 150 crore to INR 300 crore.The firm, from its FLF I, has returned over 100% of investor capital within four years while FLF II has recently been fully deployed.