Avendus closes first Future Leaders Fund II of ~584 crore

Avendus Future Leaders Fund II announced its first close with aggregate commitments of ~584 crore. The fund, a category-ii AIF registered with Sebi, is targeting to raise ~750 crore with a green shoe option of another ~500 crore. The fund has a five-year tenor with an option to extend it by another two years. It is focused on investing in privately held, scaled up market leaders/emerging leaders.