Japan's Mizuho to acquire stakes in India's Avendus

Mizuho Securities, a subsidiary of Mizuho Financial Group, will acquire stakes in Avendus from Redpoint Investments, an affiliate of KKR, and Avendus co-founder Ranu Vohra.

Vohra will remain in his role until the deal closes, pending regulatory approvals.

Avendus will retain its leadership team and brand, with founders Gaurav Deepak and Kaushal Aggarwal continuing to lead the company.

Avendus is an India-based institutional financial services firm with operations in India, the US, and Singapore.

Redpoint Investments will sell its stake as part of the deal.

Mizuho Financial Group is a global financial institution with about US$2 trillion in assets and operations in 33 countries.

Financial terms of the transaction were not disclosed.

🔗 Source: Avendus

🧠 Food for thought

Implications, context, and why it matters.

Mizuho to buy over 60% of Avendus for about $523 million, valuing Avendus near $870 million

The article did not disclose terms, yet Mizuho is buying over 60% of Avendus for about $523 million 1, valuing the financial services firm near $870 million.
A KKR affiliate will exit by selling its stake 2, and co-founder Ranu Vohra sells shares.
Avendus will become a consolidated subsidiary of Mizuho 2 (a company whose financials roll up to the parent when the parent has control). Mizuho gains control while founders Gaurav Deepak and Kaushal Aggarwal keep leadership roles.
A weak yen and governance reforms pushed deals, with India attractive as FDI rules allow over 90% of investments through automatic approval 3.

Tech and finance vendors can serve Japan-India deal needs

Many Japanese firms view India as a manufacturing and investment base under the China+1 strategy (diversifying supply chains beyond China by adding another country) 3. This Mizuho-Avendus deal could quicken cross-border M&A and capital markets work between the two countries.
Vendors of Know Your Customer/Anti-Money Laundering (KYC/AML) tools and virtual data rooms (secure online repositories for sharing deal documents) should target Japanese institutions in India 3. So should translation services and AI-powered due diligence. Ethics and integrity due diligence is rising in cross-border deals.
India logged about $26 billion across 649 M&A deals in the first three quarters of 2025 4. Policy reforms and looser foreign investment rules support Japan-India deal activity 3, which will fuel demand for deal tools and services through 2026.