ICICI Venture sells shares in affiliate company, walking away with significant earnings
ICICI Venture Exits Portfolio Firm Epack Durable, Completes $12 Million Investment in Arteria Technologies
ICICI Venture, the private equity arm of ICICI Bank, has made two significant moves in the Indian market. The venture capital firm has completed fundraising for its fifth fund last year and has now exited from one of its portfolio firms, Epack Durable, less than four years after investment.
In a strategic decision, ICICI Venture has fully divested from Epack Durable by offloading its remaining 3.79% stake via open market deals, generating a revenue of ₹132 crore. This exit, typical of Private Equity, indicates a planned exit strategy to monetize their investment. The specific reason for the exit is not explicitly mentioned, but common reasons for such exits include realizing returns on investment, portfolio rebalancing, or capitalizing on favorable market conditions for selling stakes.
Meanwhile, ICICI Venture has invested $12 million in Arteria Technologies via its maiden VC fund. Arteria Technologies is a Bengaluru-based medical technology startup that focuses on developing minimally invasive surgical devices. This investment is expected to boost the startup's growth and product development.
Regarding other developments, the mutual fund house ICICI Prudential Asset Management has filed for an Initial Public Offering (IPO). The company has finalised a large team of bankers as its IPO plan gets rolling. The performance of PE-backed Theobroma in FY25 is not disclosed in the article, and the sale process remains uncertain. The status of ChrysCapital's deal to acquire Theobroma's stake is all but done, according to the article, but the details of this deal are not directly related to ICICI Venture.
It's worth noting that ICICI Venture's fifth fund and the venture stage investment vehicle are separate entities. The specific nature of the relationship between ICICI Venture and ChrysCapital is not specified in the article.
These moves highlight ICICI Venture's continued commitment to investing in promising startups and its strategic approach to managing its portfolio companies. As for the mutual fund house ICICI Prudential Asset Management, its IPO plans are a significant step towards expanding its operations and reaching a wider audience.
ICICI Venture has exited from Epack Durable, one of its portfolio firms, and has now invested $12 million in Arteria Technologies, a Bengaluru-based medical technology startup. These moves underscore ICICI Venture's ongoing strategy in financing and investing in burgeoning businesses.
