Avendus Seeks $300 Million for New Private Equity Fund
India’s Premier Investment Bank Eyes Expansion in Private Equity Sector
Avendus, a prominent investment bank renowned for its prowess in venture deals within India, is embarking on a quest to secure approximately $300 million for its burgeoning private equity division.
This strategic move comes as the firm aims to bolster its foothold in the dynamic landscape of private equity investments, as disclosed by three credible sources privy to the matter.
Mumbai-Based Powerhouse
Nurturing Growth in India’s Thriving Startup Ecosystem
Situated in Mumbai, Avendus has emerged as a cornerstone of India’s financial ecosystem, backed by the formidable support of U.S.-based private equity titan KKR. The firm has earned widespread acclaim as the premier financial advisor
in the Indian market, steering renowned growth-stage startups such as Zepto, Lenskart, Xpressbees, CaratLane, and Atomberg through their pivotal funding rounds in the preceding year.
Expanding Horizons
Unveiling Plans for Enhanced Investment Prowess
With the advent of its third private equity fund, Avendus aims to adopt a more assertive stance by deploying larger capital injections at a heightened frequency, according to insights provided by one of the aforementioned sources. Notably,
the firm had successfully raised its second fund, amounting to approximately $185 million, in the year 2021, following an initial fund size of $50 million.
Shaping India’s Financial Landscape
Navigating the Evolving Terrain of Venture Capital
As India’s startup ecosystem blossomed over the past decade, Avendus emerged as a frontrunner, capitalizing on the nascent market dynamics.
At a time when esteemed global counterparts such as Goldman Sachs, Morgan Stanley, and JP Morgan initially exhibited tepid interest in the Indian landscape, Avendus seized the opportunity to carve its niche.
The firm’s agility and strategic vision enabled it to navigate the realm of relatively modest deal sizes, which often fell below the $30 million threshold, making them less appealing to larger financial entities.
An Era of Growth and Transformation
Unraveling the Ascendancy of India’s Startup Ecosystem
The evolution of India’s startup ecosystem into a global powerhouse has garnered the attention of prominent investors worldwide. Distinguished entities such as SoftBank,
Tiger Global, and General Atlantic, alongside sovereign wealth funds including Temasek, GIC, ADIA, Khazanah, PIB, and Mubadala, have collectively injected substantial capital into a myriad of Indian startups, spanning across various sectors and stages of development.
Pioneering Excellence
Charting Unprecedented Success in Financial Advisory
With a team comprising over 150 adept bankers, Avendus stood out as the preeminent financial advisor in India in the preceding year. Facilitating an array of transactions encompassing mergers, acquisitions,
and strategic partnerships, the firm displayed a remarkable track record of success. Venture Intelligence, a leading private market insight platform, documented Avendus’s involvement in over 30 pivotal deals, cementing its stature as an indispensable player within India’s financial ecosystem.
Diversification and Expansion
Venturing Beyond Conventional Boundaries
In tandem with the evolving demands of the market, Avendus has diversified its portfolio of services over the past decade. Beyond its core expertise in financial advisory,
the firm has ventured into wealth management, credit financing, and private equity investments, thereby ensuring comprehensive support for its clients across diverse financial domains.
Moreover, Avendus has extended its financial advisory services to the Southeast Asian region, underscoring its commitment to fostering growth and innovation on a global scale.
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