Launched in May 2024, Avendus’ Future Leaders Fund III (FLF III) aims to raise INR 1,500 Cr, with initial commitments of INR 850 Cr from family offices and institutions. The fund targets investments of INR 150-300 Cr in 12-14 companies across sectors like financial services, healthcare, technology, consumer goods, and manufacturing. FLF III follows the successful FLF I and II, which invested in notable firms like Lenskart and Juspay. The fund is currently finalizing its first healthcare investment, emphasizing late-stage private equity’s appeal in balanced portfolios. Avendus manages assets totaling INR 1,850 Cr from its previous funds.