Mizuho Securities to buy KKR's stake in Avendus Capital
Avendus was founded in 1999 in Mumbai by Indian entrepreneurs Ranu Vohra, Gaurav Deepak and Kaushal Aggarwal as an internet-focused investment solutions company.
Japanese investment bank Mizuho Securities is acquiring a stake in Avendus Capital.
Redpoint Investments Pte Ltd., an affiliate of American global private equity giant KKR, will sell its stake in the Indian financial services firm to Mizuho Securities. a subsidiary of Mizuho Financial Group, Inc, according to a statement.
Avendus Capital will continue to be led by founders Gaurav Deepak and Kaushal Aggarwal. It will also retain its brand and identity.
Avendus said the partnership will give it access to Mizuho’s global network and institutional platform.
Ranu Vohra, Co-founder and Executive Vice Chairman of Avendus Group, will step away after completing the transaction.
“After 26 incredible years of building Avendus alongside exceptional people, I step away with pride and gratitude,” said Vohra. “As I move on to a new chapter, I carry with me deep respect for what we have created and confidence in its future potential. Next is the only level”.
Avendus was founded in 1999 in Mumbai by Indian entrepreneurs Ranu Vohra, Gaurav Deepak and Kaushal Aggarwal as an internet-focused investment solutions company, originally under the name 'Coolstartups', before evolving into Avendus Capital.
KKR first invested in Avendus around 2015–2016, acquiring a 70% stake at that time, as the firm expanded beyond investment banking into credit solutions and scaled up its wealth management business.
“We have enjoyed a long and rewarding relationship with Avendus and are proud to have supported its evolution into a leading financial services institution marked by excellence and innovation,” said Akshay Tanna, Partner and Head of India Private Equity, KKR.
Mizuho said the transaction strengthens its strategy of expanding global investment banking and advisory capabilities, including those in India.
“Avendus has been walking side by side with the entrepreneurs supporting India’s rise, and it makes us very happy to be able to welcome them as one of our key partners,” said Masahiro Kihara, President and Group Chief Executive Officer, Mizuho Financial Group.
Yoshiro Hamamoto, President and Chief Executive Officer, Mizuho Securities, said the partnership would support the bank’s M&A platform across regions. “Welcoming them as a strategic partner for our M&A platform in APAC, the Americas, and EMEA will enable us to better support our clients with diversified, advanced solutions,” he said.
Mizuho Financial Group is among Japan’s largest financial institutions, with operations spanning Asia, the Americas, and Europe.
Edited by Swetha Kannan