Avendus Future Leaders Fund III, which is already 30% deployed, has invested ~$15 million in Parag Parikh Financial Advisory Services via secondary.
Pinnacle first backed the Saudi hospitality startup's $72 million Series B in 2025, when Gathern was valued at more than $267 million.
The Mumbai-based PE firm reportedly acquired a 2–3% stake from early investors, employees, and some founder-owned entities in the ad tech company.
Pinnacle Growth & Secondary Fund combined primary capital and secondary share purchases in the automotive platform.
Existing investors Verlinvest and the Mirchandani family have also increased their stakes in the India-based yogurt brand.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
The Sydney-based firm launched in May as an AI-focused secondaries investor, targeting opportunities through GP-led and direct secondary transactions.
The pre-IPO funding round, which included a mix of primary and secondary capital, reportedly valued the dairy producer at $1.1 billion.
The transaction, which saw participation from existing backer LeapFrog, provided early investors with an exit.
Secondary capital represented ~54% of the identity verification startup's equity raise.
