ICICI Venture, an arm of No. 2 Indian lender ICICI Bank, is looking to raise $150-$200 million from overseas investors for its India-focused fund, two sources with direct knowledge of the matter said.
The private equity firm, which manages more than $2 billion of assets, is raising $500 million with an option to raise another $300 million for the fund. Vishakha Mulye, the head of ICICI Venture, confirmed the company would begin road shows for international investors as early as next week, but declined to give details of the amount of funds it seeks to raise.
Source: Economic Times