Avendus Future Leaders Fund has made a secondary investment of ₹195 crore in logistics company Xpressbees.
This is the sixth investment from the ₹1,500 crore Avendus Future Leaders Fund II raised in August 2021.
“Xpressbees, with its asset-light franchise model coupled with cutting-edge technology deployment across all its functions, is all set to occupy a leading position in the logistics landscape in India. Avendus is truly excited to partner with them in this journey of value creation,” said Ritesh Chandra, Managing Partner, Avendus Future Leaders Fund.
Avendus Future Leaders Fund I & II invests in companies in the digital, consumption and financial services segments. The first series of the fund was launched in 2019 and is fully invested in Lenskart, Delhivery, VerSe Innovation, Bikaji Foods, National Stock Exchange, Ujjivan Small Finance Bank, Licious, SBI General Insurance and now Xpressbees.
The second installment of this fund was launched in 2021 and currently manages an assets under management(AUM) of ₹1,500 crore. It has invested in Lenskart, SBI General Insurance, Licious, Juspay, Zeta and now Xpressbees.
“We are excited to partner with Avendus at this stage as we continue our journey to become a leading end-to-end logistics player. We believe this announcement is a great testament to the opportunity that exists in the logistics space,” said Amitava Saha, Founder, Xpressbees.
Avendus Group is a provider of financial services with an emphasis on differentiated solutions in the areas of Investment Banking, Wealth Management, Credit Solutions and Asset Management.