Domestic PE firm ICICI Venture sees bigger gains from smaller deals

You won’t find its name in the pecking order of the top 10 private equity (PE) firms in terms of total deal value closed in 2020. And though it has struck deals worth $2.17 billion in the past three-and-a-half years, that is only 70 per cent of the total deals signed up by KKR ($3 billion) in calendar 2020 alone.   These differentials, however, do not worry ICICI Venture, the country’s first domestic PE firm that was set up in 1988 when India was nowhere on global PE players’ radar. But over the past three decades, PE and sovereign wealth fund investments in India have.....

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