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Avendus , the top investment coin bank for venture deals in India , confirmed on Wednesday it is looking to raise up to $ 350 million for its new private equity fund .
The new monetary fund , call Future Leaders Fund III , will start the Mumbai - headquartered firm to write orotund checks and exert a meaningful position in the startups it backs , tell its managing partner Ritesh Chandra in an interview with TechCrunch . TechCrunch reported in early April that Avendus wasputting together a design to raise a new fund .
A regular fastness in most growth - stage deals in India , Avendus has show itself as the gravid venture adviser for startup in the country . It provided services in over 30 deals last yr , include merger - and - acquisition minutes , fit in to Venture Intelligence , a private market insight political platform . The growing size of its secret equity unit underscores the firm ’s ambition to prolong its tentacles even more deeply into the ecosystem and see more upside from the winning .
The firm ’s rise to prominence was aided by the fact that many of its well - set up planetary rivals , such as Goldman Sachs , Morgan Stanley , and JPMorgan , initially paid less attention to the Native American market , let Avendus to clear a foothold and build relationships with the body politic ’s burgeon tech entrepreneurs .
Those kinship are also helping the firm ’s individual fairness unit to earn memory access to some of the high-pitched - visibility deals . away from booster cable backer SoftBank , the financial service of process startups Juspay and Zeta have allowed only Avendus on their chapiter tables , for example . “ These are businesses that come out of our relationships and networks , ” tell Chandra .
Avendus ’ secret equity unit , whose portfolio include Delhivery , Lenskart , Licious , VerSe Innovation , XpressBees , and the National Stock Exchange , has also bring in a repute for delivering large passing to its backers in a timely mode . Lenskart and the National Stock Exchange , for instance , both fork out four times the money Avendus enthrone within four year of investments .
“ Our fund ’s life cycle is five to six years . A job with the Indian inauguration ecosystem is that investor have poured a mint of capital letter [ into it ] but do n’t see returns for a farseeing full point of time . We are focussed on how do we get our money back , ” Chandra said .
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Despite the growing trend of technical school startups in India go public , a phenomenon that was uncommon just four years ago , investor can not solely rely on IPOs for returns . According to Chandra , Avendus has established relationship that activate the company to go out its military position by selling stakes to belated - stagecoach investor , such as sovereign investor , allow an alternate avenue for generating returns apart from IPOs .
