Thus far, as a lot as 83 p.c of $200 million FLF-II has been deployed throughout ten investments. “The remaining 17 per cent corpus will likely be deployed by December”, Chandra advised businessline in an interview.
FLF-II, which was launched in 2021, is now eyeing investments into sectors similar to healthcare and manufacture, which maintain a number of promise for good funding returns, Chandra stated. FLF-II has thus far not invested in both healthcare or manufacturing, Chandra famous.
“I’m open to healthcare. I’m very bullish on manufacturing sector. We’re very eager on speciality hospitals. We’re very eager on multi-hospital chains. We’re additionally well being tech companies aside from conventional ones.
In manufacturing, we’re very eager on high-end design—firms that do stuff for aerospace”, he stated.
India has lot of roadmap for manufacturing as lot of stuff is transferring out of China, he added.
Chandra additionally highlighted that he was not a management investor, however can solely go in for minority stakes. A number of offers in healthcare sector in final two years have been management transactions.
The present portfolio firms of FLF-II embody SBI Basic Insurance coverage, Licious, Zeta, Lenskart, Xpressbees, NSE, Indegene, Veritas Finance and FirstCry.
Focus space
Avendus Future Leaders Fund is concentrated on investing in ‘better of breed’ market leaders/ rising leaders with the target of mid-long time period worth creation.
The Fund leverages the strengths of the Avendus ecosystem – its community, relationships and business insights and invests minority stakes in late stage firms.
Core sectors of focus for the Fund are digital applied sciences, consumption and monetary companies. Chandra stated that he’s very bullish on monetary companies and highlighted that credit score demand within the system was 15-16 per cent. “Monetary companies is largest a part of our portfolio,” he stated.
The primary collection of the Fund (FLF-I) was launched in 2019 and had raised ₹375 crore. It has made ten investments to this point – Bikaji Meals, Ujjivan Small Finance Financial institution, Lenskart Options, Nationwide Inventory Trade, Delhivery, VerSe Innovation (Dailyhunt), SBI Basic Insurance coverage, Licious, Juspay and Xpressbees.
Requested if Avendus as an Alternate Funding Fund had any presence in GIFT Metropolis, he replied within the unfavourable. “We don’t have any presence now. We are going to do it in some unspecified time in the future in time and do it step by step. GIFT Metropolis is not an possibility one can ignore. It needs to be a strategic name,” he stated.
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