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Inside Avendus’ strategy to tap India’s next wave of unicorns

Livemint

Livemint · 3d ago

Inside Avendus’ strategy to tap India’s next wave of unicorns

Avendus Future Leaders Fund (FLF) has invested ₹300 crore in Aragen Life Sciences alongside SBI Life Insurance, each contributing ₹150 crore. This marks FLF’s second healthcare investment this year, following a previous stake in La Renon Healthcare. The investment was made from FLF III, reflecting the fund's ongoing interest and commitment to the healthcare sector.

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Why Avendus is expanding its investment focus on manufacturing sector

VCCircle

VCCircle · 1y ago

Why Avendus is expanding its investment focus on manufacturing sector

Avendus Future Leaders Fund, the late-stage investment arm of financial services firm Avendus, is expanding its investment focus to include the manufacturing sector as it approaches the end of the deployment period for its second fund. The firm is currently investing from the Avendus Future Leaders Fund II, which has a target corpus of $500 million. The decision to expand into manufacturing aligns with Avendus' strategy to invest in sectors that are projected to have strong growth potential.

TVS Credit to make a bid for Avendus Capital

Livemint

Livemint · 8m ago

TVS Credit to make a bid for Avendus Capital

TVS Credit, the financial services arm of India-based TVS Group, is reportedly considering a bid for KKR-backed investment bank Avendus Capital as part of its strategy to expand its financial services business. TVS Group may acquire Avendus and keep it as a standalone entity or make an acquisition through TVS Credit. Other potential bidders for Avendus include Nomura Holdings, Mizuho Financial Services, and Carlyle. Avendus Capital specializes in investment banking, particularly within India's technology and startup sectors. The final decision on the sale is expected to be made in January 2023.

Trading Platform Dhan’s Parent Eyes Unicorn Tag With $100 Mn Funding

Inc42 · 1y ago

Trading Platform Dhan’s Parent Eyes Unicorn Tag With $100 Mn Funding

Raise Financial Services, the company behind the stock trading platform Dhan, is in talks to raise approximately $100 million in a funding round. This would value the company at around $1.2-1.5 billion, allowing it to join the ranks of unicorns. Avendus has been enlisted to handle the transaction mandate, although discussions are still in early stages.

Flipkart gets board’s nod to shift domicile to India

Economic Times

Economic Times · 3m ago

Flipkart gets board’s nod to shift domicile to India

Flipkart’s board has approved plans to shift its domicile from Singapore to India, aligning with its strategy to tap Indian capital markets by 2026. This move reflects the company’s aim to synchronize its holding structure with its core Indian operations. The relocation is part of a broader trend with other firms, like Dream11 and PhonePe, returning to India. Flipkart's decision underscores its commitment to enhancing focus and agility within India’s digital economy.

Tackling fake Aadhaar cards and cross border payments: Inside Cashfree’s next phase of growth

YourStory

YourStory · 3m ago

Tackling fake Aadhaar cards and cross border payments: Inside Cashfree’s next phase of growth

Cashfree Payments, a Bengaluru-based fintech company, focuses on AI-driven fraud prevention and cross-border payment solutions. The company plans to expand its Secure ID fraud-detection suite and capture cross-border payment flows, anticipating substantial growth. Cashfree leverages AI for identity verification and fraud detection, contributing significantly to its revenue. Co-founders Reeju Datta and Akash Sinha highlight their strategy of building robust infrastructure to facilitate international and domestic transaction flows, aiming to strengthen their position in India’s digital payments market.

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.

Inside India’s Soonicorn Club: The Sectors, Hubs That Will Mint India’s Next $1 Bn+ Ventures

Inc42 · 1y ago

Inside India’s Soonicorn Club: The Sectors, Hubs That Will Mint India’s Next $1 Bn+ Ventures

A recent report by Inc42 titled "Unicorns of Tomorrow - Decoding India's Soonocorn Landscape Report, 2024" reveals that there are 112 Indian startups on track to become unicorns, with valuations ranging from $200 million to under $1 billion. These soonicorns have a combined valuation of over $40 billion and have raised more than $15 billion since 2014. Interestingly, only 8% of them are profitable, with fintech being the sector fostering the most number of soonicorns at 36, followed by e-commerce with 19 startups. Peak XV, Tiger Global, and Accel are among the investors with the most soonicorns in their portfolios.

Jobs Galore: How Indian Unicorns Have Changed The Face Of India’s Job Market

Inc42 · 2y ago

Jobs Galore: How Indian Unicorns Have Changed The Face Of India’s Job Market

According to an Inc42 report, India’s 110 Indian unicorns today employ more than 4.5 Lakh individuals directly. Indian unicorns, prominent startups valued at over $1 billion, have significantly impacted the country's job market by creating diverse employment opportunities across various sectors. These unicorns, spanning industries like e-commerce, fintech, and edtech, have transformed the employment landscape, offering jobs ranging from technology and operations to marketing and sales, thus contributing to India's evolving economic ecosystem. Read the article by clicking on "View Source" to know more-

‘India to see next set of IPO-bound firms in niche sectors from tier-II markets’

Livemint

Livemint · 1y ago

‘India to see next set of IPO-bound firms in niche sectors from tier-II markets’

India's upcoming IPOs are expected to come from tier-II markets and niche sub-sectors, according to venture capital investor Apoorva Ranjan Sharma. He believes that startups in smaller towns are often overlooked due to lack of resources and awareness, and aims to provide mentorship until they reach a valuation of $100 million. Sharma also anticipates that the next wave of unicorns will emerge from various sub-sectors, driving India's goal of becoming a $7 trillion economy by 2030. He is evaluating a secondaries fund to capture opportunities in pre-IPO and late-stage companies. Additionally, Sharma highlights the potential for specialized funds to accelerate growth in sectors like fintech, SaaS, and property tech.

Change Engine to create 20 non-profit unicorns to drive India’s social transformation

Economic Times

Economic Times · 2m ago

Change Engine to create 20 non-profit unicorns to drive India’s social transformation

Change Engine, a social impact accelerator founded by Varun Aggarwal, Shubham Bansal, and Shailendra Nath Jha, aims to create 20 non-profit unicorns in India. They provide scaling playbooks to non-profits, similar to those used by commercial startups, fostering social change with entrepreneurial energy. The accelerator's report highlights successful non-profits contributing to India’s development. Despite financial constraints, non-profit unicorns can significantly impact systemic challenges with strategic investments and scaling efforts.

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