ICICI VENTURE FUND

MANAGEMENT COMPANY
Submitted BY,

RAKESH N (34032)
ELAIYA BHARATHI E (34076)
PRASHANTH KARTHIK RAVICHANDRAN (34097)
ABOUT THE FIRM

• Venture Capital (VC) financing started in India in 1988 with the formation
of Technology Development and Information Company of India Ltd.
(TDICI) - promoted by ICICI and UTI.
• Initially as a joint venture with the Unit Trust of India.
• Subsequently, ICICI bought out UTI's stake in1998 (February) and ICICI
Venture became a fully owned subsidiary of ICICI.
• Technology Enabler: Trust Company of the West (TCW)
• Invested over 500 companies
 TOP MANAGEMENT TEAM
• Prashant Purker
• Managing Director, Chief Executive Officer since
December 1, 2015
• He joined ICICI Venture in August 2009 and has been a
member of the leadership team at ICICI Venture
• Mr. Purker has a BE in Metallurgical Engineering from the
Indian Institute of Technology (IIT), Kanpur and an MBA
from Indian Institute of Management (IIM), Ahmedabad.
• Renuka Ramnath
• Managing Director, Chief Executive Officer(2001 – 2009)
• Credited with raising the India Advantage Fund Series II, the
country's largest private equity fund of $810 million (2006).
• Ms. Ramnath holds an M.B.A. in Finance from University of
Mumbai, a Bachelor of Engineering in Textile Engineering
from Veermata Jijabai Technological Institute (VJTI) in 1982
and also completed the Advanced Management Program
at Harvard Business School.
FUNDS MANAGED

PRIVATE EQUITY PORTFOLIO REAL ESTATE PORTFOLIO

• India Advantage Fund Real Estate Series 1
• India Advantage Fund Series 1
• India Advantage Fund Real Estate Series 2
• India Advantage Fund Series 2
• India Real Estate Investment Fund (iREIF)
• India Advantage Fund Series 3
• India Advantage Fund S4 I
INVESTMENTS SO FAR

NAME OF THE COMPANY AMOUNT SECTOR DATE OF INVESTMENT FUNDING TYPE OTHER INVESTORS
INVESTED

STAR HEALTH AND ALLIED INR 500 MN INSURANCE January 21, 2013 VENTURE (SERIES SEQUOIA CAPITAL
INSURANCE UNKNOWN) INDIA

GO COLORS INR 1 BN APPAREL January 18, 2018 VENTURE (SERIES ---

UNKNOWN)

GAMES2WIN USD 2 MN ONLINE GAMING March 15, 2013 SERIES C (LATE NEXUS VENTURE
STAGE VENTURE) PARTNERS,
CLEARSTONE
VENTURE PARTNERS

PERLECAN PHARMA USD 52.5 MN PHARMACEUTICALS September 30, 2005 SERIES A (EARLY DR. REDDY’S LABS,
STAGE VENTURE) CITIGROUP

STAR HEALTH AND ALLIED --- INSURANCE September 1, 2016 PRIVATE EQUITY APIS PARTNERS
INSURANCE ROUND
(ACQUIRED
MINORITY STAKE)

THEOBROMA USD 20 MN CONFECTIONERY April 5, 2017 VENTURE (SERIES ---

UNKNOWN)
INVESTMENT STRATEGY
➔ ICICI Venture specializes in private equity, venture capital, infrastructure, special
situations, and mezzanine investments.
➔ In private equity, the firm invests in buyouts and growth capital transactions.
➔ The firm prefers to invest in special situations; distressed situations; and small and
medium enterprises.
➔ The firm provides late stage, incubation, seed/startup, early venture, mid venture,
late venture, and emerging growth investments.
➔ It may also invest in PIPEs and secondary transactions.
➔ The firm provides mezzanine financing for buyout opportunities by financial sponsors
as well as leveraged acquisition by companies and towards mid-market growth
capital.
INVESTMENT STRATEGY
➔ It also invests in turnarounds, real estate, recapitalizations, and ownership
consolidations.
➔ For real estate investments, the firm seeks to invest in residential, commercial, and
mixed land-use projects as well as projects, developers, and investments in land
acquisition and under construction stages.
➔ It seeks to invest in manufacturing, IT, IT Enabled Services, marine ports and services,
highways and railways, road and retail, software, telecommunications, utilities, online
services, consumer staples, internet retail, materials, energy, pharmaceutical
research and development,
INVESTMENT STRATEGY
➔ It also seeks to invest in pharmaceutical products, healthcare, education and
infrastructure, pharmaceuticals, biotechnology, media, financial services, and retail
sectors.
➔ It focuses on investments in India and prefers to make real estate investments in Tier 1
cities including Mumbai, National Capital Region, Bangalore, Chennai, Hyderabad,
Kolkata, and Pune.
➔ The firm typically invests between $2 million and $100 million and operates in deal
sizes upwards of $20 million in buyouts besides growth capital deals.
➔ It prefers to have a board seat in its portfolio companies.
INVESTMENT STRATEGY
➔ The firm seeks to exit its investments through the following routes: selling off the stake
to strategic investors, initial public offering in India or overseas, sale to any other
private equity fund or venture capital fund, secondary sale on stock markets, merger
with an existing listed company, and management or company buy-backs.
➔ It seeks to exit its investments between three and five years, depending upon the
stage of investment and the performance of the sector and the company. The firm
may take a minority or a controlling stake in its portfolio companies.
➔ It invests in listed and unlisted companies.
 Investments Done
Invested in Amount Stake Sector Investment date Exited

Anthea Aromatics Rs 120 Crores NA Aroma Chemicals 26 April 2016 -

DCB Bank Rs. 59.57 Crores 1.12 % Banking Jan 2018 -

Porus Rs 150 Crores 15 % Pharmaceutical April 2018 -

Laboratories
Micro Plastics Pvt Rs 300 Crores 30 % Manufacturing October 2018 -
Ltd
Theobroma Rs 137 Crores NA Food Products April 2017 -
Adlabs Imagica Rs 150 Crores Entertainment September 2013 April 2015
KIMS Hospital Rs 247.65 Crores 30 % Health 27 June 2014 12 December
2017
RJ Corp Rs 250 crore 10 % Restaurant chain 12 May 2011 -

Go Fashion India Rs 100 crores 13.8 % Fashion Jan 10 2018 -

BTI Payments Rs 140-crore NA Banking November 2013

Failures – ICICI Ventures
• ICICI Ventures holds about 23% in Subhiksha and has an estimated exposure
of about Rs106 crore in it.
• 69 NRI investors, who had invested in ICICI Ventures' India Dynamic Fund III,
have sued 'ICICI and associated companies' to the Mauritius Supreme Court.
The suit is regarding losses suffered as a result of investments in real estate.
• Balmer Lawrie & Co, set to sue ICICI Venture for accounting fraud at its
associate company, Transafe Services Ltd. It claims to have unearthed a multi-
layered accounting fraud involving inflated profits, fudging losses to show
profits, payment of huge bonuses to top management, and the payment of
income tax, dividend and dividend tax on fictitious profits. The creative
accounting was discovered when auditors trawled the books after ICICI
Venture pulled out of the company.
Thank You