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Avendus, top India venture advisor, seeks $300 million for new PE fund
Avendus, India's leading investment bank for venture deals, is looking to raise about $300 million for its private equity unit, according to three sources Avendus, India's leading investment bank for venture deals, is looking to raise about $300 million for its private equity unit.
The Mumbai-based firm, backed by U.S. private equity giant KKR, has established itself as the top financial advisor in India, working with popular growth-stage startups including Zepto, LensKart, XpressBees, CaratLane, and Atomberg on their funding rounds last year. That was partly due to deal sizes in the early days: typically they were under $30 million, not substantial enough to generate significant fees, making it less attractive for many banner names to engage. In the past decade, similar to financial advisors in other regions, Avendus has diversified its offerings, venturing into wealth management, credit financing, and private equity.
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