ICICI Venture's Puneet Nanda on his investment strategy

Q: ICICI started as a fund which looked at startups in the beginning and then of course, moved into bigger equity play. So how is that playing? How has that sort of worked out for you and when are you launching it?
Ans:
>ICICI Venture invests in research to evaluate market opportunities, kind of companies and ideas, regulatory compliances  
>To enter market by mid-2022
>Starting from scratch and undertaking thorough research
>Manage funds of external investors in a fiduciary capacity
>Tentative investment target $250-300 mn
 
 
Q: What about the real estate fund you were planning and looking at?
Answer:
>At the final stage of receiving regulatory approvals
>Identifying right kind of assets with physical due diligence 
>To enter the real estate space in 2022
 
 
Q: There is a lot of movement among private equity funds, especially where they are talking that for startups and different other model what’s needed is patient capital. It’s no longer 5-8 yrs horizon but you should have a 10-20 yrs horizon. So, how do you see this whole area and how are you going to look at your funds since they are also typically of 5-8 yrs horizon.
Ans:
> Investment horizon depends on the nature of business and when an investor comes in
>Exits also depend on how the market evolves
 
 
Q: You are going to raise funds for different kinds like real estate, startups, etc. How much of these funds have the mood within India? Are you seeing a trend change or the same thing where you are still dependent on foreign money coming into private equity funds?
Ans:
>Domestic pool of capital is evolving in terms of size and maturity
>Some domestic investors willing to take calls across multiple asset classes
>Emerging class of investors are insurance companies, pension funds, EPFO
>Indian high-net-worth individuals have also evolved

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