Mumbai, July 21 -- Avanse Financial Services Ltd, a non-banking financial company (NBFC) backed by Kedaara Capital and Warburg Pincus, is looking to raise $200-250 million in a private round in which some of its existing investors will sell part of their stakes, three people with knowledge of the development said.

The new round will be largely secondary, and will include a small primary component as the company is well capitalised following a capital infusion by Kedaara Capital ( Rs.200 crore), Mubadala Investment Company ( Rs.900 crore through its affiliate Alpha Investment Company LLC), Avendus PE Investment Advisors Pvt Ltd ( Rs.100 crore via its Avendus Future Leaders Fund II), and internal accruals in FY24.

The company, which filed...