Private equity (Cat II) · SEBI registry
INDIA ADVANTAGE FUND S3 I
Growth (Series C+) · Financial services (non-tech) · Mumbai
At a glance
- Stage focus
- Growth (Series C+)
- Primary sector
- Financial services (non-tech)
- City
- Mumbai
- HQ / office
- Prabhadevi, Mumbai, Maharashtra
- Fund registered
- 2025
- Investments on record
- 3
- Corpus (as reported)
- Fund size ~USD 400 million (PitchBook); ~9 investments
- Website
- www.iciciventure.com
- Profile ↗
About
India Advantage Fund Series 3 is a private-equity buyout fund managed by ICICI Venture Funds Management Company, one of India's oldest and largest private-equity managers (Mumbai). ICICI Venture's India Advantage Fund series (1-5) has backed ~55 companies across financial services, healthcare, consumer and other sectors.
Investment focus
Private-equity buyout / growth capital across India; sectors include financial services, healthcare/hospitals, leisure & entertainment, consumer; tickets ~USD 15-50 million
Cheque size
USD 15-50 million per company (IAF Series 3, ~17-20 target companies)
As compiled from public sources — verify with the investor.
SEBI registration
SEBI AIF Category I — reported as “Cat I”
- IN/AIF1/25-26/1893
SIDBI Fund of Funds
None found
Notable portfolio
India1 Payments; Krishna Institute of Medical Sciences (KIMS); Imagicaaworld Entertainment
Team & organisation
ICICI Venture is an established institutional PE manager (team not given a specific public count; multiple investment partners/MDs).
Close-ended, contributory, determinate trust registered with SEBI as an AIF. Manager/Sponsor/Settlor: ICICI Venture Funds Management Company Ltd (wholly-owned ICICI Bank subsidiary), multi-fund 'India Advantage Fund' series. NOTE: investment-management rights for this fund transferred to ICICI Prudential AMC effective 1 Apr 2026.
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Frequently asked
- What does INDIA ADVANTAGE FUND S3 I invest in?
- Private-equity buyout / growth capital across India; sectors include financial services, healthcare/hospitals, leisure & entertainment, consumer; tickets ~USD 15-50 million
- What cheque size does INDIA ADVANTAGE FUND S3 I write?
- As compiled from public sources: USD 15-50 million per company (IAF Series 3, ~17-20 target companies)
- How do I pitch INDIA ADVANTAGE FUND S3 I through iHub India?
- Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.
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About this record
- ⚑ PE buyout fund — not startup VC; firm is part of the ICICI group
Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.
Sources: https://www.iciciventure.com/v-portfolio-category/iaf-s3/; https://in.linkedin.com/company/icici-venture