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Avendus Ventures Aims for $300M Fundraising

  • Avendus Ventures seeks $300 million.
  • Previous funds include a $185 million maiden fund in 2021.
  • The Indian startup ecosystem ranked third globally in the past decade.

Avendus, the popular Indian-based investment bank with venture deals as its main focus, is trying to raise $300 million through its venture capital unit, according to the three sources. Located in Mumbai and backed by the U.S. private equity giant KKR, it is now recognized as the industry leader in financial advisory services in India. It operated in collaboration with many growth-stage startups like Zepto, Lenskart, Xpressbees, Caratlane, and Atomberg for their financing rounds in the past year. The company previously ran its maiden fund of $185 million in 2021. Its primary fund was worth $50 million in the beginning. While the Indian startup ecosystem was still in its infancy, it still managed to become the third largest in the world over the past decade. With a headcount of more than 150 bankers, Avendus was the top advisor on financial diligence in India last year. It did more than 30 transactions, including acquisitions and mergers, being the platform of Venture Intelligence that gathers data relevant to private markets.

Edited by Shruti Thapa