ICICI Venture Invests INR 30 Cr In Cello World


ICICI Venture, ICICI Bank’s alternative investment arm, announced that it has invested Rs 360 crore (approximately $44.3 million) in consumer houseware company Cello World, the first investment from its fifth private equity (PE) fund.

According to ICICI Venture, this is the first PE raise by the family-run business Cello World, which has a presence in 30,000 retail outlets through more than 300 distributors.

Puneet Nanda, managing director and CEO of ICICI Venture, told VCCircle in March that the ICICI Bank’s alternative investment arm is in talks to raise at least $350-400 million for its fifth PE fund and is also considering launching an early-stage growth fund.

Prior to this investment, the PE major has invested in over 60 companies across all four funds. Some of its marquee investments include the recently-listed Go Fashions India, Theobroma Foods, Metropolis Health Services, Home Solutions Bharat Biotech and Epack Durable.

ICICI Venture’s fifth PE fund has raised about $325 million within a few months from its inception mainly from existing investors – large sovereign wealth funds, insurance companies, banks, fund of funds and family offices, the statement added.

Categories: Other News

Leave a Reply Cancel reply