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Avendus raising new PE fund; Veritas picks bankers for IPO

VCCircle

VCCircle · 1y ago

Avendus raising new PE fund; Veritas picks bankers for IPO

Mumbai-based investment bank Avendus is reportedly planning to raise $300 million for its third private equity fund. The fund will aim to make larger and more frequent investments compared to its previous funds. Meanwhile, Veritas is said to have chosen its bankers for an initial public offering (IPO). No further details were provided.

Related News

Avendus, top India venture advisor, seeks $300 million for new PE fund

TechCrunch · 1y ago

Avendus, top India venture advisor, seeks $300 million for new PE fund

Avendus, the leading investment bank for venture deals in India, is seeking to raise approximately $300 million for its private equity division. With the backing of US private equity firm KKR, Avendus has established itself as the top financial advisor in India, working with successful growth-stage startups. The firm plans to write larger checks more frequently with its third private equity fund. Avendus employs over 150 bankers and also offers wealth management, credit financing, and financial advisory services in addition to private equity.

Avendus Capital’s Chandra on new fund, why PE multiples may fall and more

VCCircle

VCCircle · 4m ago

Avendus Capital’s Chandra on new fund, why PE multiples may fall and more

Avendus Capital is raising its third private equity fund amidst challenging fundraising conditions due to global uncertainties, such as the potential US recession. Ritesh Chandra, managing partner at Avendus Future Leaders Fund, shares insights on the situation. Despite these hurdles, Avendus remains optimistic about investment opportunities and anticipates a decrease in private equity multiples. The firm's strategic focus and experience in managing assets could help navigate the complex landscape and achieve favorable outcomes.

Veritas Finance picks bankers for ₹2,000-crore IPO

Livemint

Livemint · 1y ago

Veritas Finance picks bankers for ₹2,000-crore IPO

Veritas Finance, a Chennai-based lender, is reportedly planning to raise INR 2,000 crore (approximately $267 million) through an initial public offering (IPO). The company has appointed Kotak Mahindra Capital, Jefferies, HDFC, and ICICI Securities to manage the share issue. Veritas Finance aims to use the funds to expand its reach in serving India's micro, small, and medium enterprises (MSMEs). The company had previously secured INR 1,200 crore in equity funding last year. Veritas Finance competes with other lenders like Shriram Finance, Bajaj Finserv, Equitas Small Finance Bank, and Lendingkart.

Avendus floats third private credit fund, targets first close next month

VCCircle

VCCircle · 7m ago

Avendus floats third private credit fund, targets first close next month

Avendus PE Investment Advisors, part of the Avendus Group, is raising its third private credit fund, targeting the first close as soon as next month. The Mumbai-based asset manager, which launched the first private credit fund in 2017, aims to further expand its financial offerings with this new initiative. Anshul Jain, executive director of structured credit, is involved in spearheading these efforts. Details on the investment focus and target corpus have not been disclosed.

Avendus raises Rs 850 Cr in Future Leaders Fund III's first close

YourStory

YourStory · 7m ago

Avendus raises Rs 850 Cr in Future Leaders Fund III's first close

Avendus' Future Leaders Fund III (FLF III) has secured Rs 850 crore in commitments for its first close, with a target of raising Rs 1,500 crore and an additional Rs 1,500 crore green shoe option. The fund plans to invest in 12-14 startups, with each investment ranging from Rs 150-300 crore. Previous funds FLF I and II have seen successful investments, and FLF III aims to capitalize on the ongoing Indian IPO boom.

Avendus hits halfway mark in first close for third private credit fund

VCCircle

VCCircle · 3m ago

Avendus hits halfway mark in first close for third private credit fund

Avendus PE Investment Advisors has reached the halfway point in the first close of its third private credit fund, raising about Rs 1,000 crore out of a Rs 2,000 crore target, with a greenshoe option for an equal additional amount. The fund, Avendus Structured Credit Fund III, focuses on growth-stage companies with differentiated business models, aiming for transactions ranging from Rs 200-500 crore and an IRR of 16-18%. The fund is sector-agnostic and seeks institutional investors.

Veritas Finance files draft papers with Sebi to mobilise Rs 2,800-cr via IPO

YourStory

YourStory · 7m ago

Veritas Finance files draft papers with Sebi to mobilise Rs 2,800-cr via IPO

Veritas Finance, a retail-focused NBFC, filed with SEBI for a Rs 2,800 crore IPO, including a Rs 600 crore fresh issue and Rs 2,200 crore Offer-for-Sale (OFS) by existing investors. The OFS involves major stakeholders like Norwest Venture Partners and British International Investment offloading shares. The IPO aims to bolster Veritas's capital for business expansion. Founded in 2015, Veritas is the fastest-growing NBFC, focusing on MSME and individual business loans.

Kedaara, Norwest eye above-par return in Veritas IPO but impact investors to steal show

VCCircle

VCCircle · 7m ago

Kedaara, Norwest eye above-par return in Veritas IPO but impact investors to steal show

Kedaara Capital and Norwest Venture Partners are set to gain above-average returns by reducing their stakes in Veritas Finance Ltd during its IPO. However, two other investors are anticipated to achieve even greater returns. These investors, along with Kedaara and Norwest, plan to sell portions of their holdings. The Veritas IPO is poised to be profitable for its backers, highlighting the growing appeal and success of Indian financial ventures to investors.

Multiples PE enters private credit, ropes in former Deutsche Bank exec

VCCircle

VCCircle · 10m ago

Multiples PE enters private credit, ropes in former Deutsche Bank exec

Multiples Alternate Asset Management, a private equity firm based in Mumbai, has entered the private credit market. The firm has hired former Deutsche Bank executive Rahul Chawla as managing director of its credit strategy. Chawla brings over 25 years of experience in financing for financial sponsors. This move by Multiples comes as the firm considers a continuation fund of around $300 million to retain its stake in Vastu Housing Finance and APAC Financial Services Ltd. The firm's portfolio includes companies like Moengage, Licious, Acko, and Veritas Finance.

GIC-backed IRB InvIT Fund raising fresh capital to buy road assets; hires bankers

VCCircle

VCCircle · 2m ago

GIC-backed IRB InvIT Fund raising fresh capital to buy road assets; hires bankers

IRB InvIT Fund, supported by Singapore's GIC, plans to raise new capital for purchasing road assets as part of its inorganic growth strategy. The publicly listed infrastructure investment trust has appointed at least two bankers to assist with this capital-raising initiative. The focus remains on expanding its portfolio in the highways sector. The fund is positioning itself for growth and seeking to leverage its strategic partnerships to boost its asset base.

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