Avendus Future Leaders Fund (FLF) III has invested around Rs 140 crore in Parag Parikh Financial Advisory Services (PPFAS) through a secondary transaction, strengthening its portfolio of investments in established, high-growth businesses.
The transaction involved the purchase of promoter shares from Neil Parag Parikh, Chairman and CEO of PPFAS, and Khushboo Joshi, President of Wealth Management at the company.
Founded in 1992, PPFAS has built a strong presence in India’s financial services sector. The company operates across mutual funds, wealth management, GIFT City funds, private equity, and the National Pension System (NPS), serving a wide range of investors.
One of its most prominent offerings, the Parag Parikh Flexi Cap Fund, managed assets worth around Rs 1.43 lakh crore as of June 2026, making it one of the country’s leading mutual fund schemes.
According to Avendus, the investment reflects its strategy of backing well-established businesses that demonstrate strong long-term growth potential. The investment firm noted that PPFAS has witnessed significant expansion in recent years, with its assets under management (AUM) growing at a compound annual growth rate (CAGR) of around 70% over the past five years.
The latest investment also marks an important milestone for Avendus Future Leaders Fund III. With this transaction, the fund is expected to achieve its final close at around Rs 1,800 crore by the end of July.
The fund is currently around 30% deployed and plans to make five to six additional investments over the next 12 months as it continues to identify promising late-stage companies across multiple sectors.
Avendus Future Leaders Fund currently manages more than Rs 4,000 crore in assets across its funds and focuses on investing in high-growth, late-stage businesses with the potential to create long-term value.
The investment highlights continued investor confidence in India’s financial services sector, particularly in firms that have demonstrated consistent growth, strong asset management capabilities, and a diversified business model.
-By Shivani Solanki
