![]() So, you really have to plan for an IPO and we are heavily dependent on it for exits. If we look at over $500 million acquisitions, whether by Indian companies or global majors, it doesn’t exist today. “The M&A story in India is still weak today. On exits, Kumar said that Avataar expects almost seven of its portfolio companies backed from the first fund to file for their public listings in the next 24 months. Previously, Avataar had in a bulk portfolio deal acquired stakes in six B2B SaaS companies-Appnomic, Capillary, CRMNext, ElasticRun, Manthan, and Zenoti-from Norwest Venture Partners to kick off its fund. SaaS will start picking up next year,” Kumar said about the investment opportunity. Until then, the next one year, we see a lot of opportunities in the B2B-tech market, and not SaaS. ![]() There are a lot of startups between $5 million and $10 million today who will be in the market to raise funds next year. ![]() “We are a B2B fund, and SaaS is a large part of our focus.We ideally come in when a company has $15 million in annual revenues. It is expected to close three new investments from Fund II by mid-November and is focusing on companies in the B2B-tech enablement space across healthcare, urban mobility, agritech, deep-tech, blockchain and DevOps. With the second fund, the venture capital firm is expected to continue its pace of investment, backing 10-15 new companies, writing cheques with an average size of $35-$40 million, and focusing on growth-stage companies. ![]()
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