ICICI Venture, one of the country’s first home-grown private equity (PE) funds, will raise around $1 billion through three funds.
These include a new start-up fund (an area which the company is re-entering after two decades) of $200-300 million, a new real estate fund of $300-400 million targeted at smart office spaces, and a follow-up of its existing PE fund which is close to getting fully invested and has a proposed size of about $300-400 million. The probable timeline for the fundraise is one to two years, depending on the overall market conditions.
On ICICI Venture’s strategy of raising new funds, Puneet