The company was established jointly by ICICI Bank Ltd. and Unit Trust of India in 1988. In 1998, Unit Trust of India sold their stakes to ICICI Bank and ICICI Venture Fund Management Company Ltd. became fully owned by the bank.
ICICI Venture Fund Management Company Ltd. is also affiliated to Trust Company of the West (TCW). This affiliation provides easy access for ICICI Venture Fund Management Company Ltd. to the network of TCW. This network is very useful to provide the Indian companies with an easy access to the world market with the help of developed technologies. At the same time, ICICI Venture Fund Management Company Ltd. understands the necessities of Indian financial market well because its parent company and the affiliates provide the company with valuable analytical resources.
Performance of ICICI Venture Fund Management Company Ltd.
The company is doing exceptionally well in the recent time. In the 2002-03 fiscal, the company designed and raised the biggest Private Equity Fund in India. At the same time, the available resources are allocated very wisely by the company. Because of this proper allocation, the portfolio value of ICICI Venture Fund Management Company Ltd. experienced rapid growth.
ICICI Venture Fund Management Company Ltd. manages several funds and the most famous among these is the India Advantage Fund that amounts to about Rs. 750 billion. Till 31st March 2003, the company earned Rs.356.57 billion and the net profit after paying taxes was nearly Rs.124.95 billion.
ICICI Venture Fund Management Company Ltd. is planning to generate $7.5 billion in the coming three years. This money would be used for a number of purposes like investing in real estate sector and in the short-term funds. These are designed as the additional activities because the company would keep on its main business related to the private equity. The company is expecting huge growth in the coming years and is planning to have a capital base of $10 billion till 2010.
Raheja Plaza, 4th floor
17 Commissariat Road
Bangalore – 560025
Last Updated on : 27th June 2013