India-based financial services firm Avendus Capital has decided to partner with Zodius Capital to invest $400-500 million in a new fund for emerging leaders in high-growth digital and SMAC (Social, Mobile, Analytics and Cloud) based business services.

The fund Zodius Capital II is a follow-up to the previous fund Zodius Capital I, which focused on accelerated early-stage investments and build-outs in the technology sector. Zodius Capital II will invest primarily in late-stage and pre-IPO companies. 

The targeted digital business investments would cover both Internet and mobile and areas such as media, commerce and consumer services.  Business services investments would be focused primarily on SMAC-driven IT/BPO opportunities to build new disrupters or restructure and redirect existing companies toward new high-growth market segments.

Speaking about the partnership and Zodius Capital II, Neeraj Bhargava, Founder and Senior Managing Director of Zodius said, “Both Avendus and Zodius have unparalleled track records, expertise and network to generate deal flow, develop companies and work with them towards a planned exit either through an IPO or a strategic sale. Collectively we are well placed to explore the tremendous opportunity in India-centric digital and SMAC businesses”. 

Ranu Vohra, Co-founder, MD & CEO of Avendus Capital added, “The IPO surge for digital India-centric businesses is just beginning and we expect it to create a very high growth environment in this sector. Avendus also has a strong wealth management business and some of our family office clients have shown strong interest in this product”.

Current portfolio companies in Zodius include Group FMG, ZyFin, Antuit and Enki Professional.

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