Avendus calls first close of Future Leaders Fund II, Rs 584 cr committed

Avendus Future Leaders Fund II announced its first close with aggregate commitments of Rs 584 crore. The fund, a category-II AIF registered with Sebi, is targeting to raise Rs 750 crore with a green shoe option of another Rs 500 crore.

The fund has a 5-year tenure with an option to extend it by another two years. It is focused on investing in privately held, scaled up market leaders/emerging leaders.

The Fund aims to invest in companies in the digital, consumption and financial services segments. It seeks to leverage Avendus’ industry expertise, network, relationships and market leadership to invest behind ‘best in