Brief History of ICICI Venture

ICICI Venture was founded in 1988 as the Technology Development and Information Company of India Limited, through a joint venture between the ICICI Limited and Unit Trust of India.

In 1998 it became a wholly owned subsidiary of ICICI Limited and was renamed ICICI Venture Funds Management Company Limited.

ICICI Venture is a wholly owned subsidiary of ICICI Bank Limited (which is the successor entity to ICICI Limited).

In 2002, ICICI Venture migrated from (a) early stage VC investments to late stage investments and (b) proprietary capital oriented funds to Third Party Capital oriented funds.

By 2019, ICICI Venture’s AUM/A reached $5 billion since inception across all strategies including the erstwhile VC strategy. The ICICI Venture team consists of 60 people including dedicated investment professionals in each business vertical and a multi-functional corporate centre.

By 2022, ICICI Venture’s AUM/A reached $6 billion since inception across all strategies including the erstwhile VC strategy.

Key Milestones in ICICI Venture’s History

Year Key Milestone
1988 Founded as Technology Development and Information Company of India (TDICI) in a JV between ICICI Limited and Unit Trust of India
1998 Re-named to ICICI Venture after becoming wholly owned subsidiary of ICICI Limited (subsequently ICICI Bank, after the merger of ICICI Limited with ICICI Bank)
2000 Early stage VC investment tally crosses 500 companies
2001 Early stage VC strategy discontinued
2002 Private Equity vertical is established
2005 Real Estate vertical is established
2008 Best Private Equity Firm in India (PEI)
2012 Special Situations vertical is established
2016 Infrastructure vertical is established
2018 Newscorp VC Circle Hall of Fame – Indian Fund Manager of the Year
2019 AUM/A reaches $5 billion since inception
2020 Late-stage investment tally since 2002 crosses 100 companies
2022 AUM/A crosses $6 billion since inception