Real estate fund · SEBI registry
India Advantage Fund S5 I
Real assets (RE/Infra) · Financial services (non-tech) · Mumbai
At a glance
- Stage focus
- Real assets (RE/Infra)
- Primary sector
- Financial services (non-tech)
- City
- Mumbai
- HQ / office
- Prabhadevi, Mumbai, Maharashtra
- Fund registered
- 2021
- Corpus (as reported)
- India Advantage Fund Series 5 ~US$363M (2024 vintage, per PitchBook)
- Website
- iciciventure.com
- Profile ↗
About
ICICI Venture is the private equity arm of the ICICI Group, one of India's oldest and largest alternative asset managers, managing buyout and growth-equity funds (the India Advantage Fund series) as well as real estate and special-situations strategies. India Advantage Fund S5 is its Series 5 buyout fund (S5 I is the master fund, S5 II the feeder).
Investment focus
Buyout / growth private equity in mid-market Indian companies (sector-agnostic; consumer, healthcare, financial services, manufacturing)
SEBI registration
SEBI AIF Category II — reported as “Cat II”
- IN/AIF2/21-22/0939
- IN/AIF2/21-22/0998
SIDBI Fund of Funds
None found — ICICI Bank acts as anchor investor in ICICI Venture funds (private group capital); no SIDBI/government LP relationship for IAF S5 disclosed
Team & organisation
~58-60 people incl. ~12 partners (ICICI Venture firm-wide, per third-party directories)
Category II AIF (buyout/PE). Managed by ICICI Venture Funds Management Company Ltd (CIN U72200MH1988PLC166901), a company-managed multi-fund manager; India Advantage Fund S5 is one scheme (S5 I / S5 II) in the long-running IAF series.
Connect through iHub India
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Frequently asked
- What does India Advantage Fund S5 I invest in?
- Buyout / growth private equity in mid-market Indian companies (sector-agnostic; consumer, healthcare, financial services, manufacturing)
- How do I pitch India Advantage Fund S5 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 (Cat II), not startup VC. Note: ICICI Venture's public website iciciventure.com was in maintenance mode when checked (Jun 2026), so site could not be fetched live though the domain is genuine. ICICI Prudential AMC announced acquisition of ICICI Venture's AIF & advisory business (rebrand/ownership change pending).
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/contact-us/; https://aifpms.com/investments/icici-venture-india-advantage-fund-series-5/