Pravi Capital takes ICICI legacy on fundraising trail
Pravi Capital, launched by a group of former ICICI Venture executives, is reportedly looking to raise $200 million worth of growth capital for privately-held Indian companies, with fundraising slated to begin in the fourth quarter of this year.
According to reports, one of Pravi's founding partners, Jayanta Banerjee, who was formerly ICICI Venture's president of private equity practice, said that the fund will target lower- to mid-market firms with a time commitment of approximately four to five years.
Pravi launched after Banerjee and ICICI directors Anand Vyas and Sunay Mathure left the bank-backed private equity major in May. Reports at the time, the departures came as ICICI sought to raise a new $500 million infrastructure fund.
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