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ICICI Venture raises $190M from multiple investors

ICICI Venture Funds Management has completed raising $190 million for its fourth fund titled India Advantage Fund Series 4, a sector agnostic fund like its predecessors, from existing investors and an unnamed Asian sovereign wealth fund, reports Mint. The company expects to raise more capital for this fund over time. ICICI Venture is a fully owned subsidiary of ICICI Bank. It is also looking to exit existing investments by secondary and asset sales, the report added. As of now, there are 9 companies in the India Advantage Fund Series 3 and ICICI Venture has made 3 partial exits. ICICI Venture has realised $845 million from 33 exits across its first 3 private equity funds in the last 6 years, but it is unclear as to how much it had invested in the companies that time. In its Fund 1 Series, the…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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