ICICI Venture to launch Rs2,500 crore equity fund

ICICI Venture Funds Management Co Ltd, the private equity arm of India's largest private sector lender ICICI Bank, is preparing to raise Rs2,500 crore for floating a private equity fund, its managing director and chief executive officer Vishakha Mulye told reporters in Mumbai today.

The fund, which will have a greenshoe option of Rs1,500 crore, will invest across sectors. It has so far received commitments worth $200 million (Rs1,000 crore) from domestic investors, Mulye said, adding, "This has come from institutional investors and high networth individuals in the domestic market."

ICICI Venture has funds under management of over Rs8,000 crore.