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The AION Fund, with approximately USD 825 million in committed capital, has been established through a strategic partnership between ICICI Venture and Apollo Global Management. Apollo is a US-based private equity-focused, global alternative asset manager with approximately USD 249 billion of assets under management. AION is positioned to deploy flexible capital in its investee companies in the form of equity, debt or hybrid instruments. ICICI brings to AION its strong India-focused private equity investment and divestment experience, local market intelligence and access to relationships with entrepreneurs and management teams across a wide cross-section of Indian companies, as well as relationships within the Indian banking and financial community. Through the Apollo organization, AION has access to deep industry-specific knowledge, creative financial structuring skills and extensive global relationships. Thus, AION as a platform is able to leverage the combined capabilities of two best in class groups, ICICI and Apollo to pursue a differentiated approach to investing in an underserved segment of the Indian market.

AION has matured since its inception alongside the India special situations investment market. In light of such evolution, ICICI Venture and Apollo have jointly agreed to a revised format for their relationship as of April 1, 2020. AION Capital Partners Limited will continue to be managed by Apollo and advised by ICICI Venture until the end of its term. Each of ICICI Venture and Apollo are free to pursue future investment opportunities independently.

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