Avanse Financial Services Ltd. (Avanse) has announced a significant milestone, raising a primary capital of ₹1,000 crores in its latest funding round. The investment was spearheaded by Mubadala Investment Company (“Mubadala”), with participation from Avendus PE Investment Advisors Private Limited via its fund, Avendus Future Leaders Fund II.
This infusion of funds is poised to fortify Avanse’s position in the dynamic education financing sector. The company intends to leverage the capital to enhance customer experiences, drive sustained profitable growth, and fuel innovation initiatives, as outlined in a recent company statement.
Over its decade-long journey, Avanse Financial Services has played a pivotal role in fulfilling the educational aspirations of Indian students worldwide. The company’s assets under management (AUM) as of December 2023 stand at an impressive ₹12,147 crores, underscoring its significant presence in the market.
Amit Gainda, Managing Director & CEO of Avanse Financial Services, expressed enthusiasm about the growth prospects enabled by the recent capital infusion. He highlighted the company’s commitment to enhancing its brand proposition, integrating digital solutions, and expanding its product range to deliver enhanced value to stakeholders.
He further emphasised the company’s dedication to empowering students towards academic success, citing the influx of capital as instrumental in realizing this vision.
The financing deal saw Nomura Financial Advisory and Securities (India) Private Limited serving as the exclusive financial advisor to Avanse, with legal representation provided by AZB & Partners. Warburg Pincus offered legal counsel to the company, while Khaitan & Co. and Latham & Watkins LLP acted as legal counsel to Mubadala. JSA provided legal counsel to Avendus Future Leaders Fund II.
