Avendus Secures INR 850 Cr for Future Leaders Fund III's First Close FLF III aims to invest in 12–14 startups across sectors like financial services, healthcare, technology, consumer goods, and manufacturing, with ticket sizes ranging from INR 150–300 crore per investment.
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Avendus announced the first close of its Future Leaders Fund III (FLF III) on Thursday, securing commitments worth INR 850 crore.
The fund, launched in May last year, targets a total corpus of INR 1,500 crore, with an additional green shoe option of INR 1,500 crore.
FLF III aims to invest in 12–14 startups across sectors like financial services, healthcare, technology, consumer goods, and manufacturing, with ticket sizes ranging from INR 150–300 crore per investment.
Building on a 7-year track record, FLF III continues the strategy of its predecessors, focusing on late-stage private equity investments in high-growth, market-leading companies.
Ritesh Chandra, Managing Partner at Avendus Future Leaders Fund, stated, "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. It highlights the significant demand for late-stage private equity as a core component of a balanced alternates portfolio."
Notable participants in this first close include leading domestic family offices and Indian institutions. FLF III's first planned investment will focus on the healthcare sector, aligning with its strategy of building a portfolio of consistent compounders and category-creating businesses.
Previous funds under the Future Leaders banner, FLF I and II, have achieved significant milestones. FLF I has returned over 100% of investor capital within four years, while FLF II is now fully deployed. These funds have backed marquee names such as Lenskart, Bikaji, Juspay, SBI General Insurance, and Sagility Technologies. FLF investors have also benefited from co-investment opportunities in portfolio companies.
Registered as a Category-II Alternative Investment Fund (AIF) with SEBI, FLF III is positioned to leverage Avendus' extensive network of BIZ Experiencess and financial sponsors, offering multiple exit options and a differentiated portfolio for investors.
Founded in 1999, Avendus Group is a leading financial services firm with a presence across India, the US, and Singapore. The firm specialises in investment banking, wealth management, asset management, and credit solutions, focusing on sustainable and long-term growth.
