Avendus Future Leaders Fund III (FLF III) has declared its first close, securing commitments of Rs 850 crore ($100 million).

With a 7-year track record, FLF III builds on a demonstrated methodology of its predecessor funds, centering on contributing behind set up and developing advertise pioneers in the private space. Driving household family workplaces and Indian teach taken part in this to begin with close.

FLF backs high-growth market-leading companies and category-creating businesses. By leveraging Avendus’ deep domain expertise and broad relationship organize with entrepreneurs and budgetary supports, it offers get to a separated portfolio whereas too giving numerous exit optionality. Its speculators have moreover been advertised co-investment openings in portfolio companies.

FLF I and II portfolio companies include Lenskart, Bikaji, Juspay, SBI General Insurance, and Sagility Innovations, among others. It states that FLF I have returned over 100% of speculator capital inside 4 a long time, whereas FLF II has as of late been fully deployed. FLF III is in the handle of finalizing its to begin with speculation in the healthcare sector.

Registered as a Category-II Alternative Investment Fund (AIF) with SEBI, FLF III is focusing on a raise of Rs 1,500 crore with an extra green shoe alternative of Rs 1,500 crore. The Finance plans to make 12-14 speculations, with a normal ticket estimate of INR 150–300 crore, in divisions such as money related administrations, healthcare, innovation, buyer goods, and manufacturing.

source : entrackr.