Avendus Capital has acquired the Zodius platform, an early growth stage private equity investor in digital companies for an undisclosed sum, the company said in a statement. The Zodius team of Neeraj Bhargava, Gautam Patel and Shilpa Kulkarni will continue to be run the existing funds namely Zodius Technology Fund and Zodius Technology Opportunities Fund and actively support the portfolio companies till exits and closure of the fund.
According to Business Standard Ranu Vohra, MD and CEO, Avendus Capital, says“Avendus has a strong franchise in digital and technology businesses and we see a lot of potential in growing the Zodius platform. The acquisition is in line with our ambition to strengthen our asset management business and Zodius is an important addition to the franchise.”
The next plan for Avendus is to launch a $250 million Zodius Growth Capital Fund which will be built on the existing Zodius track record and invest in new economy ventures. “Growth capital in India, specifically in consumer and enterprise technology is an exciting opportunity and we have built an exceptional portfolio in our previous fund. I look forward to working with Avendus and Neeraj to further harness our capabilities and build market-leading companies while delivering superior returns to our investors,” says Shilpa Kulkarni to Business Standard.