Avendus Future Fund acquires stake in Bikaji Foods for Rs 40 crore

The private equity fund has bought a part of the stake held by two existing investors, Lighthouse and Intensive Softshare.
  • vaishnavi News Editor
Acquisition

Avendus Future Leaders Fund has acquired a stake in domestic snacks firm Bikaji Foods International for Rs 40 crore. The private equity fund has bought a part of the stake held by two existing investors, Lighthouse and Intensive Softshare.

Future Leaders Fund focuses on investing in late-stage private companies in the consumer and financial services segments, through a secondary transaction.

Ritesh Chandra, Managing Partner and Head, Future Leaders Fund, said, "Bikaji has established itself as a leading company in the Indian ethnic snacks segment with a sizable market share, profitability and a platform geared for growth. With pan-India presence and favourable macro tailwinds, the company is expected to grow rapidly in the coming years."

Future Leaders Fund is eyeing to raise Rs 500 crore from individual and institutional investors. It plans to invest in eight to 10 companies with an average investment size of Rs 40-75 crore in its life cycle.

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