We have done lot of significant fund raising: Prashant Purker of ICICI Venture
In a chat with ET Now, Prashant Purker, MD & CEO, ICICI Venture spoke how the company is looking to raise funds in the coming days.
Prashant Purker : The deal activity on an absolute level yes if you look at volumes is a little slower but that is not really… I think if you look at total growth rate also that is a little slower but on an absolute numbers, the total number of deals done, the exit made, etc, is still very-very substantive. I think there is fairly good amount of activity. Now as deal doers we can always ask for more deals but I would not say that no that we are really slowing down much.
As I said minorly this year the GDP is also slated to be slightly lower, last time it was 7.9, is estimated to be 7.1. If you look at the total deals done around, they reflect the similar pattern.
ET Now: So then what can we expect from ICICI Venture, if you are saying that yes deal activity is still very strong, do you have any fund raising plans, what is keeping you busy?
Prashant Purker : So ICICI Venture has been very-very active. We have done lot of significant fund raising. If you look at last one year alone, we raised Resurgent Power Ventures along with Tata Power. We raised around $845 million that is a substantive one. We have also been still raising, we raised around $320 million in IAF4 which is our private equity one and we will continue to look.
I think more importantly besides this we have something like $1.5 billion of India dedicated dry powder which we have invest so that you will see this being deployed over next three to four year overall. So you will see strong deal activity on both investment side, fund raising side as well as exit side.
ET Now: So what are the sectors that are enthusing you, I am also speaking to you at a time when it seems that we are seeing a bubble in the traditional e-commerce space so what are the sectors you like, should we go back to the blue chips?
Prashant Purker : Yes so we have a much more differentiated approach. We do not have one single fund through which we invest. So we have four different set of funds in different specialities which we do. So to look at the stress side and let us say what, etc, we have AION which have strategic partnership with Apollo and we have nearly a billion dollar of AUM there. We are still having around 400 million to deploy.
I think even if you look at stress or mezzanine or debt type structures, we have enough capital available. But if you look at growth side, we have a private equity growth side which is coming. If you go to infrastructure side, then we are looking at a power platform
Prashant Purker : The deal activity on an absolute level yes if you look at volumes is a little slower but that is not really… I think if you look at total growth rate also that is a little slower but on an absolute numbers, the total number of deals done, the exit made, etc, is still very-very substantive. I think there is fairly good amount of activity. Now as deal doers we can always ask for more deals but I would not say that no that we are really slowing down much.
As I said minorly this year the GDP is also slated to be slightly lower, last time it was 7.9, is estimated to be 7.1. If you look at the total deals done around, they reflect the similar pattern.
ET Now: So then what can we expect from ICICI Venture, if you are saying that yes deal activity is still very strong, do you have any fund raising plans, what is keeping you busy?
Prashant Purker : So ICICI Venture has been very-very active. We have done lot of significant fund raising. If you look at last one year alone, we raised Resurgent Power Ventures along with Tata Power. We raised around $845 million that is a substantive one. We have also been still raising, we raised around $320 million in IAF4 which is our private equity one and we will continue to look.
I think more importantly besides this we have something like $1.5 billion of India dedicated dry powder which we have invest so that you will see this being deployed over next three to four year overall. So you will see strong deal activity on both investment side, fund raising side as well as exit side.
ET Now: So what are the sectors that are enthusing you, I am also speaking to you at a time when it seems that we are seeing a bubble in the traditional e-commerce space so what are the sectors you like, should we go back to the blue chips?
Prashant Purker : Yes so we have a much more differentiated approach. We do not have one single fund through which we invest. So we have four different set of funds in different specialities which we do. So to look at the stress side and let us say what, etc, we have AION which have strategic partnership with Apollo and we have nearly a billion dollar of AUM there. We are still having around 400 million to deploy.
I think even if you look at stress or mezzanine or debt type structures, we have enough capital available. But if you look at growth side, we have a private equity growth side which is coming. If you go to infrastructure side, then we are looking at a power platform
