Avendus Future Leaders Fund III Achieves First Close with Rs 850 Crore Commitments
Avendus Future Leaders Fund III (FLF III) has successfully announced its first close, securing commitments amounting to Rs 850 crore (approximately $100 million). This fund boasts a robust 7-year track record, building upon the successful strategies of its predecessor funds and concentrating on investments in both established and emerging market leaders within the private sector.
Key Highlights of FLF III
- Participation from leading domestic family offices and Indian institutions during this first close.
- Focus on high-growth, market-leading companies and innovative category-creating businesses.
- Utilisation of Avendus’ extensive domain expertise and strong relationship network to offer a unique portfolio with diversified exit opportunities.
- Investors provided with co-investment opportunities in portfolio companies.
Successful Previous Investments
The portfolios of FLF I and II include notable companies such as Lenskart, Bikaji, Juspay, SBI General Insurance, and Sagility Technologies. FLF I has successfully returned over 100% of investor capital within a span of 4 years, while FLF II has recently completed full deployment. Currently, FLF III is in the process of finalising its inaugural investment in the healthcare sector.
Fund Structure and Investment Plans
Registered as a Category-II Alternative Investment Fund (AIF) with SEBI, FLF III aims to raise Rs 1,500 crore, with an additional green shoe option of Rs 1,500 crore. The Fund intends to make between 12 to 14 investments, averaging between INR 150–300 crore per investment across various sectors including:
- Financial Services
- Healthcare
- Technology
- Consumer Goods
- Manufacturing