Avendus’ Third Future Leaders Fund Raises INR 850 Cr In First Close

Avendus’ Third Future Leaders Fund Raises INR 850 Cr In First Close

SUMMARY

Launched in May 2024, ‘Future Leaders Fund (FLF) III’ has a total targeted corpus of INR 350 Mn, with a green shoe option of up to INR 1,500 Cr

The fund plans to make 12-14 investments, with an average ticket size of INR 150–300 Cr, in sectors such as financial services, healthcare, technology, consumer goods, and manufacturing

The FLF series of funds back high-growth market-leading companies and category-creating businesses

Avendus said that its Future Leaders Fund III (FLF III) has marked its first close, securing INR 850 Cr in commitments from leading domestic family offices and Indian institutions.

Registered as a category-II Alternative Investment Fund (AIF) with SEBI, FLF III is targeting a raise of INR 1,500 Cr with an additional green shoe option of INR 1,500 Cr.

Launched in May 2024, ‘Future Leaders Fund (FLF) III’ has a total targeted corpus of INR 350 Mn, with a green shoe option of up to INR 1,500 Cr.

The fund plans to make 12-14 investments, with an average ticket size of INR 150–300 Cr, in sectors such as financial services, healthcare, technology, consumer goods, and manufacturing.

The FLF series of funds back high-growth market-leading companies and category-creating businesses.

As per the company statement, FLF III is in the process of finalising its first investment in the healthcare sector, which reflects the fund’s strategy of building a portfolio of consistent compounders and money multipliers. 

The fund follows the success of its predecessors, FLF I and II, whose portfolios include leading companies such as Lenskart, Bikaji, Juspay, SBI General Insurance, and Sagility Technologies. FLF I has returned over 100% of investor capital within four years, while FLF II has recently been fully deployed.

Ritesh Chandra, managing partner, Avendus Future Leaders Fund, commented, “This milestone highlights the significant demand for late-stage private equity as a core component of a balanced alternate portfolio.”

Established in 2019, Avendus Future Leaders Fund partners with other private equity firms and invests in late-stage startups. The FLF platform’s investor base includes Indian and US-based family offices, HNIs, and domestic institutions. 

It claims to have assets worth INR 1,850 Cr under its management on account of investments made from the previous two funds. Its portfolio companies include Lenskart, Delhivery, VerSe Innovation (Dailyhunt), Licious, Juspay, Zeta and FirstCry. 

Prior to this, the company closed two other funds under the platform. The investment firm raised INR 375 Cr as part of its first Future Leaders Fund and followed it by closing the second fund under the platform with INR 1,500 Cr in 2022. 

Meanwhile, in January, Avendus announced the launch of its third private credit fund with a target corpus of up to INR 4,000 Cr

At the time, Avendus said that the fund will target sectors such as manufacturing, consumer, chemicals, technology, B2B businesses, pharmaceuticals, healthcare, among others. 

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Avendus’ Third Future Leaders Fund Raises INR 850 Cr In First Close-Inc42 Media
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