Home » ICICI Venture to raise Rs 1,685 cr

ICICI Venture to raise Rs 1,685 cr

ICICI Venture to raise Rs 1,685 cr

The proposed ICICI Venture infra fund, which aims to invest in assets such as roads, ports, airports and seaports and infrastructure companies, has secured investment commitments of up to $270 million (Rs 1,685 crore) from major companies like LIC.

For the ICICI’s debut infrastructure fund Temasek, Life Insurance Corporation and General Insurance Corporation have evinced interest to invest. It signals the return of investors’ faith in the growth potential of the sector at a time when the economic slump has dented the ability of private equity funds to raise money.

As per the sources, the country’s largest home-grown private equity fund has received commitments to the tune of $150 million (Rs 936 crore) from domestic investors and another $120 million (Rs 749 crore) from international investors, including sovereign and pension funds.

The Singapore government owned Temasek, an investment company, is said to have committed $100 million to the new fund, which aims to raise $500 million (Rs 3,121 crore) as corpus.

Leave a Reply