Private Equity

Fund News

Avendus makes first close of Rs.584-Cr for Future Leaders Fund II

Mint  

Financial services firm Avendus has achieved the first close of INR 584 crore for its Future Leaders Fund II, which will look to invest in market leaders in sectors such as digital, consumer and financial services. The fund, a Category-II AIF registered with Sebi, is targeting to raise INR 750 crore with a green shoe option of another INR 500 crore. It has a five-year tenor with an option to extend it by another two years, and is focused on investing in privately held, scaled up market leaders/emerging leaders. The fund has raised capital from domestic family offices and high net-worth individuals.