Avendus Future Leaders Fund III (FLF III) announced its first close, securing commitments of INR 850 crore. With a 7-year track record, FLF III builds on a proven strategy of its predecessor funds, focusing on investing behind established and emerging market leaders in the private space. Leading domestic family offices and Indian institutions participated in this first close.

Ritesh Chandra, Managing Partner, Avendus Future Leaders Fund, commented, “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, and in Avendus’ leadership in this space. This milestone also highlights the significant demand for late-stage private equity as a core component of a balanced alternates portfolio.”

As one of India’s leading large cap funds for private markets, FLF backs high-growth market-leading companies and category-creating businesses. By leveraging Avendus’ deep domain expertise and extensive relationship network with entrepreneurs and financial sponsors, FLF is uniquely positioned to offer access to a differentiated portfolio while also providing multiple exit optionalities. FLF investors have also been offered co-investment opportunities in portfolio companies.

FLF I and II portfolio companies include Lenskart, Bikaji, Juspay, SBI General Insurance, and Sagility Technologies, amongst others. FLF I has returned over 100% of investor capital within 4 years while FLF II has recently been fully deployed. FLF III is in the process of finalizing its first investment in the healthcare sector, which reflects the fund’s strategy of building a portfolio of consistent compounders and money multipliers.

Registered as a Category-II Alternative Investment Fund (AIF) with SEBI, FLF III is targeting a raise of INR 1,500 crore with an additional green shoe option of INR 1,500 crore. The Fund plans to make 12-14 investments, with an average ticket size of INR 150–300 crore, in sectors such as financial services, healthcare, technology, consumer goods, and manufacturing.

About Avendus

Avendus Group is a leading financial services firm with a presence in the areas of Investment Banking, Institutional Equities, Wealth Management, Credit Solutions and Asset Management. Established in 1999 in Mumbai, India, Avendus is today present in 10 cities across India, US and Singapore. Avendus partners with the Indian entrepreneur ecosystem to provide differentiated solutions that enable clients to meet their strategic aspirations.

The Asset Management business focusses on delivering consistent, sustainable, and long term risk-adjusted returns with the underlying principle of capital growth and capital preservation, across four differentiated and performance driven product offerings - private equity, private credit, long only and long short strategies. Each offering has a distinctive investment objective and an independent investment team, giving investors the ability to participate in growth areas of their choice.

For more information, please visit www.avendus.com