Puneet Nanda of ICICI Venture on its investment strategy

ICICI Venture aims to be a major player in private equity in the fields of startups, fintech and real estate. Business Standard’s Surajeet Das Gupta takes a look at CEO Puneet Nanda’s strategy

Subjects
Private equity | PE / VC investments | ICICI companies

Question: ICICI started out as a fund that was interested in startups at first, then of course moved into bigger stocks.

So how does it play out? How did it work for you and when are you launching it? Responnse : > ICICI Venture invests in research to assess market opportunities, type of businesses and ideas, regulatory compliance > To enter the market by mid-2022 > Start from scratch and undertake in-depth research > Manage funds from external investors on a fiduciary basis > Interim investment objective 250-300 million dollars Q: What about the real estate fund that you are and are considering? Responnse: > At the final stage of receiving regulatory approvals > Identify the right type of asset with physical due diligence > Enter the real estate space in 2022 Q: There’s a lot of movement among private equity funds, especially when they say that for startups and various other models, you need patient capital.. It is no longer a 5 to 8 year horizon but you should have a 10 to 20 year horizon. So, how do you see this whole area and how are you going to look at your funds since they also generally have a horizon of 5 to 8 years?. Responnse : > The investment horizon depends on the nature of the business and when an investor intervenes > The outputs also depend on the evolution of the market Q: You will be raising funds for different types like real estate, startups, etc. How many of these funds have the vibe in India? Are you seeing a trend change or the same where you are still reliant on foreign money going into private equity funds? Responnse : > The domestic capital pool is changing in terms of size and maturity > Some national investors are ready to take calls on several asset classes > The emerging class of investors are insurance companies, pension funds, EPFO > Wealthy Indians have also evolved

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First published: Wed Dec 15, 2021. 8:30 am IST


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