Avendus invests Rs 140 crore in Parag Parikh Financial Advisory Services
14 Jul 2026, 12:19 PMThe deal involved acquiring stakes from existing promoters, including Chairman and CEO Neil Parag Parikh and Wealth Management President Khushboo Joshi.
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Avendus Future Leaders Fund III, the third private equity fund of Avendus Capital, has invested around Rs 140 crore in financial services firm Parag Parikh Financial Advisory Services (PPFAS) through a secondary share purchase.
The deal involved acquiring stakes from existing promoters, including Chairman and CEO Neil Parag Parikh and Wealth Management President Khushboo Joshi.
Established in 1992, PPFAS has built a presence across mutual funds, wealth management, private equity, GIFT City funds, and pension products. Its flagship Parag Parikh Flexi Cap Fund managed assets of about Rs 1.43 lakh crore as of June 2026.
The investment reflects Avendus’ focus on partnering with mature businesses that demonstrate strong long-term growth prospects. The firm highlighted PPFAS’ rapid expansion, noting that its assets under management have grown at an annual rate of nearly 70% over the past five years.
Avendus expects the final close of its third Future Leaders Fund at around Rs 1,800 crore by the end of July. With roughly one-third of the fund already deployed, it plans to add five to six more portfolio companies over the coming year.
Avendus currently oversees more than Rs 4,000 crore across its investment funds, focusing primarily on late-stage growth companies.
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