Avendus, Ex- WNS Chief Launches Well Timed $500 mn Ziodius Technology Fund to Back Late Stage, Pre-IPO Companies

Avendus Capital, a financial services company and former WNS Chief Neeraj Bhargava are floating a $500 mn technology fund to invest in late stage ventures that are readying for an Initial Public Offering, says a news report.

The fund called Zodius Technology Fund II will be financed by Avendus Alternate Asset Management and Zodius Capital, a fund launched by Bhargava in 2011 and other Limited partners. The seven year fund will focus on Social, Mobile, Analytics and Cloud and will invest $25-40 mn across 15 companies.

We believe there will be a range of industry leaders emerging that will be IPO worthy and create enormous market value. [Ranu Vora, the Co-founder & MD of Avendus Capital/via]

So far this year, we’ve heard of smaller offerings like that of Koovs at the junior exchange in London and HomeShop18’s $75 mn offer at the NYSE. After the general elections, we are likely to see some larger IPOs in the Indian IT & ITeS space.

IPO Slowdown in India

Several Indian companies like Bharatmatrimony and QuickHeal are waiting for the right time for a public offering.

As we’d written earlier, there are over 20 Venture Capital backed companies that are ready for an initial public offering. Only one (JustDial) managed a decent public offering last year. The IPO scene in India was pathetic in FY14. Fundraising through IPO hit a 10 year low at Rs 1,205 cr in FY14.

Total
0
Shares
Leave a Reply

Sign Up to Newsletter

Daily.

You May Also Like

RIP Prof C K Prahalad

Prof C K PrahaladProf C K Prahalad is no more and his death is a huge loss to business world as well as academia. An IIM alumnus, Prof Prahalad is known for his BoP philosophy and he pretty much saw the future of telecom revolution as well as FMCG revolution in India.