Cat II · Managed by ICICI Venture
ICICI Venture's Return to Venture Capital
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
India Advantage Fund S5 I (IN/AIF1/25-26/1893) is a SEBI-registered Category I AIF managed by ICICI Venture Funds Management Company Limited, registered in September 2025. It marks ICICI Venture's return to the Indian venture capital segment after focusing primarily on private equity since 2002. India Advantage Fund S5 I is a sector-agnostic early growth fund focused on investment opportunities in fast-growing Indian Fintech, Consumer-tech and Enterprise spaces, targeting the stage immediately after classic Series A or early Series B rounds. The fund takes significant minority stakes particularly in the Indian MSME and startup sectors. ICICI Venture was established in 1988 as a joint venture between ICICI Limited and UTI; it has since invested in 600+ businesses and manages USD 6.5 billion in AUM/A since inception. ICICI Venture is a wholly-owned subsidiary of ICICI Bank Limited. NOTE: SEBI data shows fund name as 'India Advantage Fund S5 I' — this is incorrect. The registered AIF per ICICI Venture's website under the VC strategy is IVen Amplifi Fund. The manager_name in input ('Iven Amplifi Fund') was the correct commercial fund name misplaced into the manager field.
Vishakha Mulye
CEO, ICICI Venture Funds Management Company Limited
Vishakha Mulye is the CEO of ICICI Venture Funds Management Company Limited. She was previously Executive Director of ICICI Bank, responsible for wholesale banking, project finance, and treasury. Before ICICI Bank, she held senior leadership roles within the ICICI Group across corporate banking, strategy, and finance. She has 30+ years of experience in financial services.
Ishan Mishra
Venture Capital Team, IVen Amplifi Fund
Ishan Mishra is a member of ICICI Venture's Venture Capital team managing IVen Amplifi Fund, focusing on early growth stage investments in Fintech, Consumer-tech, and Enterprise sectors.
Keshav Tawari
Venture Capital Team, IVen Amplifi Fund
Keshav Tawari is a member of ICICI Venture's Venture Capital team for IVen Amplifi Fund.
Shashwat Madan
Venture Capital Team, IVen Amplifi Fund
Shashwat Madan is a member of ICICI Venture's Venture Capital team for IVen Amplifi Fund.
Sharad Malpani
Venture Capital Team, IVen Amplifi Fund
Over 23 years with ICICI Group, including private equity investments across sectors. Heads ESG responsibilities for private equity business. B.E. in Chemical Engineering and MMS from University of Mumbai.
Tej Kapoor
Venture Capital Team, IVen Amplifi Fund
17 years of investing experience, previously Managing Partner at IvyCap Ventures and Global Partner at Fosun. Experience across US, India, China and UK. Master’s from Johnson & Wales University.
Pooja Basu
Director - Legal, Secretarial & Compliance
Joined ICICI Venture in 2012. Responsible for legal and compliance functions. Previously with Piramal Group and involved in M&A and private equity transactions. Alumna of ILS College, Pune.
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