Parag Parikh Financial Advisory Services (PPFAS), the parent company of Parag Parikh AMC, has received fresh institutional backing after Avendus Future Leaders Fund III acquired a stake worth around ₹140 crore through a secondary share transaction. The fund purchased just under a 1% stake from promoters Neil Parag Parikh and Khushboo Joshi, meaning the proceeds went to the selling shareholders rather than the company. The investment reflects Avendus' confidence in PPFAS' long-term growth prospects, driven by rising retail participation in mutual funds, the increasing financialisation of household savings, and the company's strong track record in asset management.