ICICI Venture

ICICI Venture is an alternative assets manager based in India and operates as a wholly owned subsidiary of ICICI Bank. Established in 1988, the firm specializes in private equity, venture capital, and real estate investments. It focuses on various sectors, including manufacturing, IT, healthcare, and infrastructure, and primarily invests in small and medium enterprises, distressed situations, and growth capital opportunities. In the real estate domain, ICICI Venture manages funds that invest in residential, commercial, and mixed-use projects, particularly in Tier 1 cities such as Mumbai, Bangalore, and Chennai. The firm typically engages in transactions ranging from $2 million to $100 million and prefers to secure a board seat in its portfolio companies. ICICI Venture aims to exit its investments within three to five years through various routes, including sales to strategic investors or public offerings. Over its operational history, the firm has invested in more than 500 companies, demonstrating a strong commitment to fostering entrepreneurship and value creation in India.

Sharad Malpani

Director

38 past transactions

Innovist

Series B in 2025
Innovist is a personal care company specializing in the development of hair, skin, and sun care products under brands such as Bare Anatomy, Chemist At Play, and SunScoop. The company is committed to creating science-backed formulations that are clean and transparent. Innovist offers a variety of customized products, including shampoos, body lotions, and sunscreens, tailored to address specific concerns like dandruff, dryness, and sun protection. Their product range also includes hair oils, body wash, eye cream, face and hair serums, body scrubs, hand wash, conditioners, and masks, all designed to meet individual needs based on hair type, goals, and lifestyle.

Libas

Venture Round in 2024
Libas is a global online fashion retailer specializing in trendsetting suits, sarees, lehengas, and contemporary Indian women's wear. The company focuses on providing a diverse range of ethnic and traditional clothing, catering to those seeking fashionable yet culturally significant attire. Libas offers fast fashion at affordable prices, with delivery services that ensure customers can access their purchases conveniently.

Indifi

Series E in 2023
Indifi Technologies Pvt. Ltd., established in 2015 and headquartered in Gurugram, India, operates an online platform that facilitates loans for small businesses. It connects borrowers with lenders, providing a range of services to support the lending process, including data aggregation, analysis, and loan monitoring. Indifi specializes in serving businesses in sectors such as e-commerce, travel, hospitality, retail, and trading. Its unique approach involves assessing creditworthiness based on industry-specific performance data, enabling it to identify low-risk, high-potential businesses that may lack access to traditional financing. The platform presents these applications to multiple lenders, increasing the chances of loan approval and providing lenders with choices.

Cello

Venture Round in 2022
Cello is a prominent Indian consumer products company known for its extensive range of plastic products, including writing instruments, household items, and molded furniture. As a part of the Cello Group, valued at Rs.1000 crore, it stands as one of India's largest manufacturers in this sector and has gained recognition as a trusted household name. Cello specializes in consumerware, offering products such as water bottles, storage containers, tiffins, and stationery items. With a commitment to innovation and quality, the company has been awarded the PLEXCONCIL AWARD for outstanding performance on multiple occasions. Cello primarily generates its revenue within India, reflecting its strong market presence and dedication to meeting consumer needs through advanced technology and continuous improvement.

Zopper

Series C in 2022
Zopper is an insurance infrastructure API platform that collaborates with insurance providers to create personalized insurance products for distribution partners. The company specializes in enhancing sales, operations, and marketing within the insurance sector. Zopper's marketplace facilitates access to insurance through features such as a mobile application, customer relationship management (CRM) tools, digital onboarding, and real-time claim tracking. This comprehensive approach enables clients to effectively curate and offer suitable insurance plans tailored to their customers' needs. By democratizing access to insurance distribution, Zopper plays a significant role in streamlining the insurance process for both providers and consumers.

Epack Durable

Venture Round in 2021
EPACK Durable Ltd is a prominent manufacturer specializing in consumer durable electronics, primarily focusing on room air conditioners and small domestic appliances. The company produces a variety of products, including induction cooktops, mixer grinders, and water dispensers. In addition to these finished goods, EPACK Durable also manufactures essential components for consumer electronics, such as heat exchangers, induction coils, axial fans, copper tubing, and sheet metals. Operating within a single segment, the company is recognized as the second-largest contract manufacturer of room air conditioners, demonstrating its significant role in the consumer electronics market.

India1 ATM

Venture Round in 2019
India1 ATM operates a chain of ATM and point-of-sales (POS) terminals around the world.

ZappFresh

Seed Round in 2018
ZappFresh is an online platform that specializes in delivering a wide range of fresh meat and seafood products directly from farms and fisheries. The company focuses on offering high-quality options, including chicken, mutton, and ready-to-cook items such as cold-cut ham, sausages, salami, and various seafood. ZappFresh aims to ensure that all produce reaches consumers in peak freshness, thus enhancing the overall meat experience for customers in India. By providing convenient access to fresh meat at their doorstep, ZappFresh is committed to elevating the standard of meat consumption in the market.

Go Colors

Venture Round in 2018
Go Colors is an Indian women's apparel brand specializing in affordable bottom wear, including churidars, leggings, palazzos, culottes, pants, trousers, jeggings, and more. Their products cater to various styles like ethnic, western, fusion, activewear, and denim, with prices starting from Rs.199 for girls' legwear and Rs.399 for women's bottoms. They operate through retail stores and departmental facilities across India.

Theobroma Foods

Venture Round in 2017
Theobroma Foods is a family-owned bakery, patisserie, and chocolaterie located in Mumbai, India, that has been operating since 2004. The company has evolved from its original location at Cusrow Baug on Colaba Causeway into a prominent chain with 15 outlets, including recent expansions into the national capital region. Theobroma is recognized for its diverse range of quality products, including bread, brownies, cakes, chocolates, and cookies, all prepared using the best available local ingredients. By focusing on innovative recipes and creative combinations, the company has cultivated a dedicated customer base. Its centralized production facilities enhance efficiency and profitability while maintaining a commitment to offering high-quality items at affordable prices, solidifying its position as a leading food destination in a competitive market.

Star Health and Allied Insurance

Private Equity Round in 2016
Star Health and Allied Insurance Company Limited, established in 2006 and headquartered in Chennai, India, specializes exclusively in health insurance products. The company provides a diverse range of offerings, including policies for individuals, families, senior citizens, personal accidents, Mediclaim, and overseas travel insurance. By concentrating solely on health insurance, Star Health aims to excel in service quality and innovation, ensuring that its products remain accessible and affordable. The company is committed to making health insurance a fundamental right for all individuals, reflecting its dedication to enhancing the well-being of its customers.

Anthea Aromatics Pvt.

Series A in 2016
Anthea Aromatics, together with its subsidiaries, engages in the research, development, and supply of intermediates and specialty chemicals for the fragrance and flavor industry. The company offers a range of specialty aldehydes and other products. It handles chemistries, such as aldol condensation, acid catalyzed cyclization, a formation of nitriles from aldehydes, diels-alder reaction, friedel crafts reaction, selective hydrogenation, methylation, hydrochlorination/chloromethylation, epoxidation, and fractional crystallization. The company was incorporated in 1985 and is based in Mumbai, India.

KIMS Hospitals

Venture Round in 2014
KIMS Hospitals operates as a multi-disciplinary integrated private healthcare services provider in southern India, operating a chain of multispecialty hospitals with focus on tertiary and quaternary healthcare. The company offers healthcare services across specialties and super specialties through their network of six hospitals under the “KIMS Hospitals” brand. Their flagship hospital at Secunderabad, is one of the largest private hospitals in India at a single location (excluding medical colleges), with a capacity of 1,000 beds. Spread across six cities in the states of Andhra Pradesh and Telangana, their hospitals provided services to over 638,529 patients (including inpatients and outpatients) in fiscal year 2017.

India1 ATM

Venture Round in 2013
India1 ATM operates a chain of ATM and point-of-sales (POS) terminals around the world.

Games2Win

Series C in 2013
Games2Win is an Indian gaming company based in Mumbai, founded by Mahesh Khambadkone and Alok Kejriwal in 2005. The company specializes in developing a variety of casual mobile games across genres such as action, adventure, arcade, sports, and trivia. Additionally, Games2Win operates online gaming portals, proprietary games, in-game ad networks, and mobile social networks for applications and games, catering to a wide audience of gamers seeking engaging and exciting experiences.

Metropolis Healthcare

Venture Round in 2013
Metropolis Healthcare is a leading diagnostic company based in Mumbai, India, recognized for its extensive service menu that includes over 4,500 types of tests. With 34 years of experience, the company processes approximately 15 million tests annually, serving more than 10,000 laboratories, hospitals, nursing homes, and 200,000 doctors across the country. Metropolis is accredited by both the National Accreditation Board for Testing and Calibration Laboratories and the College of American Pathologists, underscoring its commitment to quality and accuracy. In addition to its core pathology services, Metropolis has diversified its offerings over the past decade to include clinical trials, hospital lab management, home health services, preventive health check-ups, and corporate wellness solutions. This expansion reflects the company's dedication to advancing healthcare diagnostics in India and enhancing patient care.

Star Health and Allied Insurance

Venture Round in 2013
Star Health and Allied Insurance Company Limited, established in 2006 and headquartered in Chennai, India, specializes exclusively in health insurance products. The company provides a diverse range of offerings, including policies for individuals, families, senior citizens, personal accidents, Mediclaim, and overseas travel insurance. By concentrating solely on health insurance, Star Health aims to excel in service quality and innovation, ensuring that its products remain accessible and affordable. The company is committed to making health insurance a fundamental right for all individuals, reflecting its dedication to enhancing the well-being of its customers.

Brookefield Hospital

Venture Round in 2011
Brookefield Hospital is a 24/7 healthcare facility committed to providing accessible and compassionate medical services to all patients. The hospital offers a comprehensive array of services, including emergency care, health checkups, endocrinology and diabetes care, cardiology, cardiothoracic surgery, dental surgery, cosmetic dentistry, cancer care, and physiotherapy. With its focus on delivering care with dignity and respect, Brookefield Hospital ensures that critical services such as dialysis are available around the clock, fostering a friendly and professional environment. The hospital aims to provide quality healthcare at optimal costs, making it a vital resource in the community.

PVR

Post in 2008
PVR Limited is a leading theatrical exhibition company based in Gurugram, India, known for pioneering the multiplex cinema trend in the country. Established in 1995, PVR operates a network of 835 screens across 175 properties in India and Sri Lanka, providing a modern cinema experience. The company is engaged in the exhibition, distribution, and production of films, in addition to offering in-house advertising, food and beverage sales, gaming, and restaurant services. PVR aims to deliver superior quality ambience and technologically advanced systems, ensuring high service standards and customer satisfaction in cinema viewing.

TopsGrup

Venture Round in 2008
TopsGrup serves industries from technology to government with security, logistics, and facility management services.

Metalcastello

Private Equity Round in 2008
Metalcastello is an Italian manufacturer specializing in the production of gears for mechanical transmissions. The company focuses on crown wheels and related products, providing essential components such as gears and shafts utilized in vehicle transmissions and drive lines. With a commitment to quality and precision, Metalcastello plays a significant role in the automotive industry by supplying critical transmission elements that enhance vehicle performance and reliability.

Iven Medicare

Venture Round in 2008
Iven Medicare is a vehicle for investments and buyouts in the healthcare sector with a special focus on healthcare delivery systems.

Sahyadri Hospitals

Venture Round in 2008
Sahyadri Hospitals operates a chain of specialty hospitals across Pune, Nashik, Karad, and Navi Mumbai in India. Founded in 1994, the company provides primary, secondary, and tertiary healthcare services with a strong focus on neurosurgery, neurology, hematology, oncology, cardiology, critical care, orthopedics, pediatrics, ENT/ophthalmology, nephrology, urology, and more. With eight hospitals and 900 beds, Sahyadri Hospitals employs over 1,000 clinicians and 2,300 supporting staff, serving millions of lives. The company is headquartered in Pune and is recognized for its leadership in various medical specialties, including neurosciences, hematology, oncology, cardiothoracic surgery, orthopedics, and liver transplant services.

Karvy Group

Venture Round in 2007
Karvy Group is one of India's largest integrated financial services companies, originally established as a shareholder servicing firm. Over the years, it has diversified into various financial and non-financial sectors by leveraging technology to provide secure and efficient transactions for individual and corporate clients. With a presence across India through over 900 offices, Karvy offers a wide range of services including equity investing, wealth management, loans, investment banking, and mutual fund operations. The group is also known for delivering quality advice and research across different asset classes. Additionally, Karvy has expanded its international footprint with offices in Dubai, Bahrain, and New York, where it provides Indian financial products and transaction processing services. The company's extensive reach allows it to impact the lives of nearly one-third of India's population.

RG Stone

Private Equity Round in 2007
RG Stone provides complete urological care. They also provide minimally invasive surgery, laparoscopic gynecology, female urology treatment, cosmetic gynecology, and bariatric surgery services.

TOPS Security

Venture Round in 2007
Tops Security is a security services provider, predominantly providing guarding services. It also specialises in emergency response, electronic security systems and other ancillary services.

Rubamin

Venture Round in 2007
Rubamin is a manufacturer based in Vadodara, India, specializing in metal chemicals and intermediates. The company is involved in various sectors, including metal recycling, specialty chemicals, mining, and industrial gas production. Rubamin also engages in mineral exploration and provides engineering services. Their product offerings include zinc and catalyst recycling, supported by a commitment to quality, reliability, and safety. The company's strong in-house research and development capabilities, combined with state-of-the-art infrastructure, enable it to deliver innovative solutions tailored to industry needs.

Tebma Shipyards

Venture Round in 2007
Tebma Shipyards Limited is a prominent player in the Indian shipbuilding industry, specializing in the design and construction of offshore support vessels and tugs. Founded in 1984 and headquartered in Chennai, India, the company offers a diverse range of products including offshore support vessels such as platform supply vessels, multi-purpose support vessels, anchor handling tug supply vessels, and various types of dredgers. Tebma also manufactures floating cranes and pilot launches, as well as LPG carriers and survey launches. Historically, the company has focused on building tugs and dredgers, serving key clients like ports, shipping companies, the Indian Navy, and lake authorities. Tebma Shipyards was previously known as Tebma Engineering Limited before rebranding in 1998. As of March 31, 2020, it operates as a subsidiary of Cochin Shipyard Limited.

Sainik Mining and Allied Services

Private Equity Round in 2007
Sainik Mining and Allied Services is a contractual mining company based in Gurugram, India, specializing in coal extraction and logistics. The company provides a range of services, including coal removal, transportation, and consultancy for coal mining operations. Sainik Mining also engages in mine planning and closure planning, ensuring comprehensive support throughout the mining process. Utilizing a large fleet of trucks, the company efficiently transports coal to consumers located far from the mines. Additionally, Sainik Mining is involved in gold exploration and the manufacture of indigenous coal washery equipment, catering to various subsidiaries of Coal India Limited.

Perlecan Pharma

Series A in 2005
Perlecan Pharma is an integrated drug development company.

Transafe

Acquisition in 2004
Transafe engages in the business of leasing of containers for road and rail transportation of goods.

PVR

Venture Round in 2003
PVR Limited is a leading theatrical exhibition company based in Gurugram, India, known for pioneering the multiplex cinema trend in the country. Established in 1995, PVR operates a network of 835 screens across 175 properties in India and Sri Lanka, providing a modern cinema experience. The company is engaged in the exhibition, distribution, and production of films, in addition to offering in-house advertising, food and beverage sales, gaming, and restaurant services. PVR aims to deliver superior quality ambience and technologically advanced systems, ensuring high service standards and customer satisfaction in cinema viewing.

Miditech

Venture Round in 2002
Miditech is a film and television production company.

Mars Hospitality Group

Venture Round in 2001
Mars Hospitality Group provides collective expertise and experience in setting up and operating boutique hotels and exclusive clubs under management contracts or other appropriate arrangements. Their hotels and clubs are an oasis of well-being for their guests.

Mars Hospitality Group

Venture Round in 2000
Mars Hospitality Group provides collective expertise and experience in setting up and operating boutique hotels and exclusive clubs under management contracts or other appropriate arrangements. Their hotels and clubs are an oasis of well-being for their guests.

Trinethra

Private Equity Round in 2000
To be the foremost Retail Brand which makes India healthy and happy, with an obsession to provide wholesome and freshest foods. Passionately deliver convenient, competitive and meaningful solutions to the evolving regular needs of the Indian consumer in a sustainable and responsible manner.

Crossword Bookstore

Venture Round in 2000
Crossword Bookstore is a retail chain specializing in a diverse range of products, including books, toys, stationery, and gifts. The store's offerings encompass various categories of literature, such as fiction, non-fiction, business and management, children's books, and young adult titles. In addition to books, Crossword provides a selection of home and kitchen products, novelty items, and women's fashion accessories. Their inventory also includes action toys suitable for infants, toddlers, and preschoolers, as well as art and craft sets, children's accessories, and writing instruments. The combination of these products aims to cater to a wide array of customer needs and preferences.

Prize Petroleum

Seed Round in 1998
Prize Petroleum provides appraisal and development of hydrocarbon accumulations. They also offer seismic acquisition, interpretation, drilling of wells, development of fields, and carrying out production operations.
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