The Capital Quest | ICICI Venture has partnered with VC firm Mayfield. | Techno Glob


Private equity firm ICICI Venture, one of the early entrants into India’s alternative investment sector, said in a LinkedIn post that it has recruited Subeer Monga as a partner.

Monga is expected to be involved in the venture stage for the PE firm, although it did not elaborate.

ICICI Venture, once the largest PE firm in India with assets under management, saw homegrown partners before moving forward in its core sector-agnostic PE franchise.

Although ICICI Venture is a mid-market PE firm; It also does some venture-level deals. In addition to its core PE practice; It has a real estate investment vertical and also has partnerships with others for different asset classes.

It is partnering with Tata Power for infrastructure investments under Resurgent Power Ventures, particularly in the power sector. This unit also counts the Kuwait Investment Authority and the State of Oman General Reserve Fund as stakeholders.

ICICI Venture has also partnered with asset specialist Apollo Global for a special-situation investment platform for India. But this deal fell through as the company was looking to inject its second fund and both partners were now free to strike deals on that side. Currently, Apollo Global directly manages the AION portfolio, although it counts as an advisor to ICICI Venture.

As previously reported. Capital searchICICI Venture also launched a new investment platform. In the field of real estate.

Monga joined ICICI Venture from international venture capital firm Mayfield. He spent the past 12 years at the VC firm and was promoted to partner at the VC firm last October.

Under Mayfield he was Strata; Lendingkart, Enkash, Licious Box 8 LEAP India Securens Systems, Knowlarity Communications; Upwards Fintech, Fourcee, Sohanlal Commodities, Talview, Centum Learning The Beer Cafe Genesis Colors, Worked on several investments including Geodesic Techniques. According to his LinkedIn profile; and transactions between you and others;

Prior to that, he had a brief stint at HSBC after a career as an investment banker at IL&FS Investsmart, which was acquired by HSBC.

Rushank Vora at ICICI Venture’s existing PE unit; Apart from Sainath Ramanathan and Sharad Malpani, the cast includes top cast members like Gagandeep S Chhina and Nikhil Mohta.

The company saw a turnaround when Puneet Nanda took over as General CEO from Prashant Purker two years ago.



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