Former Mayfield India executive Subeer Monga has joined ICICI Venture as an alternative investment partner at ICICI Bank, according to a LinkedIn post on Tuesday.
Monga has been linked with Mayfield since April 2010. He was promoted to partner at the private equity firm in October last year. In his previous profile, He worked on Mayfield’s investments in India.
Some of Mayfield’s notable investments that Monga has worked on include real estate investment startup Strata. fintech platform Lendingkart; The management platform Enkash uses; online meat delivery company Licious; Quick-service chain (QSR) Box8 and liquor cum QSR chain The Beer Cafe, among others.
Before Mayfield, Monga worked at HSBC InvestDirect (India) Limited from 2008 to 2010 as Associate-Corporate NBFC. He also has investment banking experience at HSBC InvestDirect (formerly IL&FS Investsmart Securities Ltd).
Monga is a graduate of the University of Windsor, Canada with a Bachelor of Business Administration (BBA). He is also a Chartered Financial Analyst (CFA) candidate from the CFA Institute, US.
Founded in 1998, ICICI Venture manages over $5 billion worth of assets across four funds: India Advantage Fund (IAF) Series I, II, III and IV. The firm has made more than 600 investments to date and exited approximately 80 companies starting in 2022.
ICICI Venture’s investments include Go Fashions India; Theobroma Foods; Metropolis Health Services; Home Solutions (a subsidiary of Pantaloons Retail owned by Aditya Birla Group); Bharat Biotech and Epack Durable Pvt Ltd.
Earlier this year, ICICI Venture’s managing director and CEO Puneet Nanda had said that the company is raising its fifth fund in the private equity space. The company is in talks to raise at least $350-400 million (around ₹2,600-3,000 crore) for its fifth PE fund and is also considering launching an early-stage growth fund.
“We are now raising our fifth fund in the private equity (PE) space. We will go to existing investors first. Some will give higher tickets,” Mananda told us. VCCircle In March