2022年10月17日

Avataar Venture Partners发射第二个3.5亿美元的基金部分被率故事简介基金二世从business - to - business (B2B) technology-backer是三年后首次发起基金价值3亿美元,不到两年的时间后关闭充值基金价值1亿美元投资于其投资组合内的公司。ETtech Avataar Venture Partners,支持独角兽软件创业公司如Amagi Zenoti和其他人来说,推出了其第二个基金(基金II)的3.5亿美元。基金二世从企业到企业(B2B) technology-backer是三年后首次发起基金价值3亿美元,不到两年的时间后关闭充值基金价值1亿美元投资于其投资组合内的公司。第二个基金预计将创下高达4亿美元的最后关闭,创始人和合伙人Mohan Kumar告诉ET。“我们通常支持10 - 15公司基金,确保我们提供的所有帮助。但是我们只能使用一次那么多公司,解释了论文背后的一只3.5亿美元的基金,”Kumar说。“我们与该基金可能会高达4亿美元以上。我们永远不会成为一个10亿美元的基金,因为我们不能服务。“Avataar第二基金取得了第一次关闭只有语料库总数的50%,他补充说。最后关闭预计将在2023年3月。Avataar希望部署语料库从基金二世在接下来的30个月。 Discover the stories of your interest Kumar, a former partner at Norwest Venture Partners, and Nishant Rao, the former chief operating officer of Chennai-based software as a service (SaaS) firm Freshworks, launched Avataar Venture Partners in 2019. For its first fund, Avataar raised the corpus from HarbourVest, the global fund-of-funds, as its single limited partner or sponsor. With the second fund, the venture capital firm is expected to continue its pace of investment, backing 10-15 new companies, writing cheques with an average size of $35-$40 million, and focusing on growth-stage companies. It is expected to close three new investments from Fund II by mid-November and is focusing on companies in the B2B-tech enablement space across healthcare, urban mobility, agritech, deep-tech, blockchain and DevOps. “We are a B2B fund, and Software-as-a-Service SaaS is a large part of it. We ideally come in when a company has $15 million in annual revenues. There are a lot of companies between $5 million and $10 million today who will be in the market to raise funds next year. Until then, the next one year, we see a lot of opportunities in the B2B-tech market, and not SaaS. SaaS will start picking up next year,” Kumar said about the investment opportunity. Previously, Avataar had in a bulk portfolio deal acquired stakes in six B2B SaaS companies—Appnomic, Capillary, CRMNext, ElasticRun, Manthan, and Zenoti—from Norwest Venture Partners to kick off its fund. On exits, Kumar said that Avataar expects almost seven of its portfolio companies backed from the first fund to file for their public listings in the next 24 months. “The M&A story in India is still weak today. If we look at over $500 million acquisitions, whether by Indian companies or global majors, it doesn’t exist today. So, you really have to plan for an IPO and we are heavily dependent on it for exits. To go IPO in the Indian market there has to be good unit economics, and there’s a preference for B2B SaaS companies because they do not guzzle that much cash,” Kumar said about exit possibilities. Avataar’s portfolio company, RateGain Travel Technologies , which provides software for the hospitality industry listed on the Indian bourses in December last year. Around the same time, retail customer relationship management (CRM) software provider, Capillary Technologies, part of Avataar’s portfolio, also filed its draft prospectus. Avataar’s second fund comes at a time when global technology stocks have taken a beating, as markets react to inflationary pressures and high interest rates. “Overall health of LPs depends on public markets, and that has taken a hit. And they are all evaluating where the market is and will be slow to deploy so they aren’t in a hurry. Hence, for even the existing funds raising out there, there have been a lot of re-ups (or existing LPs participating). So, four of our LPs have signed-up for a re-up for our second fund and we are bringing two new global LPs. For now, we are not creating a structure to take money locally,” said Kumar. Read More News on