VC fund (Cat II) · Curated list
Avendus Future Leaders Fund
Pre-IPO / Late stage · Financial services (non-tech) · Mumbai
At a glance
- Stage focus
- Pre-IPO / Late stage
- Primary sector
- Financial services (non-tech)
- City
- Mumbai
- HQ / office
- 901, Platina, 9th Floor, Plot No. C-59, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051, India (Avendus Capital Corporate/Registered Office). Tel +91 22 6648 0050
- Fund registered
- 2016
- Investments on record
- 14
- Corpus (as reported)
- FLF III launched May 2024 with target AUM of INR 3,000 cr (~USD 350M, incl. green-shoe up to INR 1,500 cr over a base of INR 1,500 cr); first close reached ~INR 850 cr / ~USD 98M (per DealStreetAsia). Prior two funds (FLF I & II) managed combined AUM of >INR 1,850 cr. Firm materials cite consolidated AUM of ~INR 3,750 cr across funds.
- Website
- avendus.com
- Profile ↗
About
Avendus Future Leaders Fund (FLF) is the growth/pre-IPO private-equity platform of Avendus Capital, an India-focused entrepreneur-centric financial services firm (Avendus is majority-owned by global PE firm KKR since 2015). FLF makes concentrated minority investments (avg INR 200-300 cr) into category-leading late-stage companies across financial services, consumption, technology, healthcare and manufacturing. The platform is led by Managing Partner Ritesh Chandra; FLF III was launched in May 2024 with a target corpus of INR 3,000 cr (~USD 350M), reaching a ~USD 98M first close.
Investment focus
Stage: Growth / late-stage / pre-IPO (avg ticket INR 200-300 cr, 10-12 investments per fund), minority stakes — NOT early-stage VC. Sectors: financial services, consumption, digital & technology, healthcare, manufacturing.
Cheque size
INR 150-300 Cr average ticket (minority stakes in late-stage companies)
As compiled from public sources — verify with the investor.
SEBI registration
SEBI AIF Category III — reported as “Major/growth VC (growth/pre-IPO PE) / Cat I/Cat II/Cat III”
- IN/AIF3/16-17/0304
- IN/AIF3/16-17/0284
- IN/AIF1/17-18/0360
- IN/AIF2/17-18/0341
SIDBI Fund of Funds
None found (KKR-backed Avendus Group; LP base is Indian & US family offices, HNIs and domestic institutions; no SIDBI/government LP disclosed)
Notable portfolio
Bikaji Foods; Lenskart; Delhivery; VerSe Innovation (Dailyhunt); Licious; Juspay; FirstCry; Xpressbees
Team & organisation
Avendus Capital-managed (KKR majority-owned group); SEBI Category II AIF, multi-fund platform (Future Leaders Fund I, II, III)
Connect through iHub India
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Frequently asked
- What does Avendus Future Leaders Fund invest in?
- Stage: Growth / late-stage / pre-IPO (avg ticket INR 200-300 cr, 10-12 investments per fund), minority stakes — NOT early-stage VC. Sectors: financial services, consumption, digital & technology, healthcare, manufacturing.
- What cheque size does Avendus Future Leaders Fund write?
- As compiled from public sources: INR 150-300 Cr average ticket (minority stakes in late-stage companies)
- How do I pitch Avendus Future Leaders Fund through iHub India?
- Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.
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About this record
- ⚑ PE/growth-stage, NOT early-stage VC — large minority tickets (INR 200-300 cr) into pre-IPO/mature companies, so a poor fit for an early-stage startup-acceleration program. Part of Avendus Capital (majority-owned by global PE firm KKR). Email is a generic Avendus corporate office inbox ([contact on file]), NOT a fund-specific FLF address; a '[contact on file]' address appeared only in a third-party snippet and is not confirmed on the official site, so not used. Private firm — no government/DFI/university linkage found.
Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.
Sources: https://www.avendus.com/india/funds/future-leaders-fund; https://www.avendus.com/india/newsroom/avendus-announces-the-launch-of-future-leaders-fund-iii-with-a-target-aum-of-usd-350-million