Avendus Future Leaders Fund (FLF) III has invested around Rs 140 crore in Parag Parikh Financial Advisory Services (PPFAS) through a secondary transaction. The investment involved the acquisition 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 operates across mutual funds, wealth management, GIFT City funds, private equity and the National Pension System (NPS). Its flagship offering, the Parag Parikh Flexi Cap Fund, managed assets worth around Rs 1.43 lakh crore as of June 2026. According to Avendus, the investment aligns with its strategy of backing established businesses with long-term growth potential. The firm claims PPFAS has recorded strong growth in recent years, with its assets under management growing at a CAGR of around 70% over the last five years. With this transaction, Avendus Future Leaders Fund III 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. Avendus Future Leaders Fund manages more than Rs 4,000 crore in assets across its funds and invests in late-stage companies across sectors. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
