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Avendus raises 
200 Crore in Second PE Funding
By siliconindia
Mumbai: Avendus Capital's private equity firm Avendus Private Equity Investment Advisors, has raised 
200 Crore in its second private equity fund, reports VCCircle. Being the sole sponsor of the fund, Avendus Capital raised the amount from domestic high net worth individuals (HNIs) in a period of six months.
Established in 2008, Avendus Capital is a financial services firm that provides customized solutions in the areas of financial advisory, equity capital markets, institutional broking, wealth management and alternative asset management. Manoj Thakur, CEO, Avendus PE investment Advisors, said that their firm invests only in public listed companies and adopts a private equity approach to invest in public equities. With a strong concept of teamwork, integrity, diversity, excellence, fun and laddering towards excellence, the company will deploy capital through secondary market instruments in 10-12 under-researched small cap and mid cap-listed companies with market capitalization of less than $500 million.
Thakur adds that the returns from investing in listed equities are found to be significantly higher, which provides attractive entry valuations and easier exits that public markets offer in India. With an assortment of the companies like Camlin India and TTK Prestige, the company has invested in six companies from its previous funds. The first fund proved out to be extremely rewarding to the firm and its clients.
The company has raised fund only from domestic ultra HNIs. They work on a 2:20 fee structure, wherein two percent is charged as fund administration charges and 20 percent of carried interest or profits are shared among the firm and its partners. Currently focusing on the amplitude of equipment manufacturing sector and the agri space, the company plans to raise a fund every year targeting a corpus of Rs450 crore for its third fund by the end of this year. The third fund will be a mix of domestic and international capital which will be invested in firms with the market cap range of Rs5,000 crore.
With more than 12 years of buy-side experience and over 18 years of management experience, Thakur was involved in managing CDPQ's (Causse de depot et placement du Quebec) direct investment portfolio for Asia Pacific, served as Head of M&A at A.S. Watson and led investments for GE Asia Pacific Capital Technology Fund for the Asia Pacific region. He has also made media investments in India including UTV and ENIL (Radio Mirchi) and served on the Boards of UTV and ENIL for several years.
200 Crore in its second private equity fund, reports VCCircle. Being the sole sponsor of the fund, Avendus Capital raised the amount from domestic high net worth individuals (HNIs) in a period of six months.
Established in 2008, Avendus Capital is a financial services firm that provides customized solutions in the areas of financial advisory, equity capital markets, institutional broking, wealth management and alternative asset management. Manoj Thakur, CEO, Avendus PE investment Advisors, said that their firm invests only in public listed companies and adopts a private equity approach to invest in public equities. With a strong concept of teamwork, integrity, diversity, excellence, fun and laddering towards excellence, the company will deploy capital through secondary market instruments in 10-12 under-researched small cap and mid cap-listed companies with market capitalization of less than $500 million.
Thakur adds that the returns from investing in listed equities are found to be significantly higher, which provides attractive entry valuations and easier exits that public markets offer in India. With an assortment of the companies like Camlin India and TTK Prestige, the company has invested in six companies from its previous funds. The first fund proved out to be extremely rewarding to the firm and its clients.
The company has raised fund only from domestic ultra HNIs. They work on a 2:20 fee structure, wherein two percent is charged as fund administration charges and 20 percent of carried interest or profits are shared among the firm and its partners. Currently focusing on the amplitude of equipment manufacturing sector and the agri space, the company plans to raise a fund every year targeting a corpus of Rs450 crore for its third fund by the end of this year. The third fund will be a mix of domestic and international capital which will be invested in firms with the market cap range of Rs5,000 crore.
With more than 12 years of buy-side experience and over 18 years of management experience, Thakur was involved in managing CDPQ's (Causse de depot et placement du Quebec) direct investment portfolio for Asia Pacific, served as Head of M&A at A.S. Watson and led investments for GE Asia Pacific Capital Technology Fund for the Asia Pacific region. He has also made media investments in India including UTV and ENIL (Radio Mirchi) and served on the Boards of UTV and ENIL for several years.