Avendus PE Investment Advisors today launched its third private investment in public equity (PIPE) fund which would focus on sectors that benefit from rapid urbanisation and increasing rural prosperity.
Avendus India Opportunities Fund III is registered with market regulator SEBI as an alternate investment fund (AIF), the company, a subsidiary of Avendus Capital, said.
“With an expected size of Rs 500 crore, the fund will use a private equity approach to invest in high quality listed mid-cap companies,” the company said here.
The scheme would focus on sectors which benefit from rising discretionary spending, rapid urbanisation and increasing rural prosperity, it said.
“The fund will invest in 12-14 high conviction mid-cap stocks, taking equity stakes of around 5 per cent for an investment horizon of 2 to 3 years.”
As per the company, the past two funds of Avendus PE, launched as Portfolio Management Strategies, have outperformed the broader indices.