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
|Founded as Technology Development and Information Company of India (TDICI) in a JV between ICICI Limited and Unit Trust of India
|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)
|Early stage VC investment tally crosses 500 companies
|Early stage VC strategy discontinued
|Private Equity vertical is established
|Real Estate vertical is established
|Best Private Equity Firm in India (PEI)
|Special Situations vertical is established
|Infrastructure vertical is established
|Newscorp VC Circle Hall of Fame – Indian Fund Manager of the Year
|AUM/A reaches $5 billion since inception
|Late-stage investment tally since 2002 crosses 100 companies
|AUM/A crosses $6 billion since inception