With the announcement of its first close, the Avendus Future Leaders Fund III (FLF III) has secured commitments totalling Rs 850 crore ($100 million).
Building on the successful approach of its predecessor funds, FLF III has a 7-year track record and focuses on investing behind both established and up-and-coming private sector market leaders. During this initial close, prominent Indian institutions and domestic family offices took part.
FLF invests in rapidly expanding companies that lead their respective markets and establish new categories. It provides access to a unique portfolio and a variety of exit options by utilizing Avendus’ broad network of relationships with financial sponsors and entrepreneurs, as well as its deep domain expertise. Opportunities for co-investment in portfolio companies have also been made available to its investors.
Lenskart, Bikaji, Juspay, SBI General Insurance, and Sagility Technologies are a few of the companies in the FLF I and II portfolios. It claims that FLF II has just been fully deployed, while FLF I has returned more than 100% of investor capital in just four years. The finalization of FLF III’s first healthcare investment is currently underway.
FLF III, which is registered with SEBI as a Category-II Alternative Investment Fund (AIF), is aiming to raise Rs 1,500 crore with an extra Rs 1,500 crore green shoe option. With an average ticket size of INR 150–300 crore, the Fund intends to make 12–14 investments in industries like manufacturing, consumer goods, healthcare, technology, and financial services.
