ICICI Venture Funds Management Company Limited

ICICI Venture Funds Management Company Limited is a private equity, venture capital, and real estate investment arm of ICICI Bank Ltd. It specializes in private equity, venture capital, infrastructure, special situations, and mezzanine investments. In private equity, the firm invests in buyouts and growth capital transactions. The firm prefers to invest in special situations; distressed situations; and small and medium enterprises. The firm provides late stage, incubation, seed/startup, early venture, mid venture, late venture, and emerging growth investments. It may also invest in PIPEs and secondary transactions. The firm provides mezzanine financing for buyout opportunities by financial sponsors as well as leveraged acquisition by companies and towards mid-market growth capital. It also invests in turnarounds, real estate, recapitalizations, and ownership consolidations. For real estate investments, the firm seeks to invest in residential, commercial, and mixed land-use projects as well as projects, developers, and investments in land acquisition and under construction stages. It seeks to invest in manufacturing, IT, IT Enabled Services, marine ports and services, highways and railtracks, road and retail, software, telecommunications, utilities, online services, consumer staples, internet retail, materials, energy, pharmaceutical research and development, pharmaceutical products, healthcare, education and infrastructure, pharmaceuticals, biotechnology, media, financial services, and retail sectors. It focuses on investments in India and prefers to make real estate investments in Tier 1 cities including Mumbai, National Capital Region, Bangalore, Chennai, Hyderabad, Kolkata, and Pune. The firm typically invests between $2 million and $100 million and operates in deal sizes upwards of $20 million in buyouts besides growth capital deals. It prefers to have a board seat in its portfolio companies. The firm seeks to exit its investments through the following routes: selling off the stake to strategic investors, initial public offering in India or overseas, sale to any other private equity fund or venture capital fund, secondary sale on stock markets, merger with an existing listed company, and management or company buy-backs. It seeks to exit its investments between three and five years, depending upon the stage of investment and the performance of the sector and the company. The firm may take a minority or a controlling stake in its portfolio companies. It invests in listed and unlisted companies. ICICI Venture was founded in 1988 and is based in Mumbai, India with an additional office in Bangalore, India and New Delhi, India.