Former Mayfield India executive Subeer Monga has joined ICICI Venture as a partner, the alternative investment arm of ICICI Bank, according to a LinkedIn post by him on Tuesday.
Monga was associated with the Mayfield since April 2010. He was elevated as partner at the private equity company in October last year. In his previous profile, he worked on Mayfield’s investments in India.
Some of Mayfield’s notable investments on which Monga worked include real-estate investment startup Strata; fintech platform Lendingkart; spends management platform Enkash; online meat delivery company Licious; quick-service chain (QSR) Box8 and alco-beverage cum QSR chain The Beer Cafe, among others.
Prior to Mayfield, Monga worked as an associate - corporate NBFC at HSBC InvestDirect (India) Limited from 2008 to 2010. He also has investment banking experience at HSBC InvestDirect (erstwhile IL&FS Investsmart Securities Ltd).
Monga is a Bachelor of Business Administration (BBA) graduate from the University of Windsor, Canada. He is also a chartered financial analyst (CFA) candidate from CFA Institute, US.
Established in 1998, ICICI Venture manages assets worth over $5 billion across four funds – India Advantage Fund (IAF) Series I, II, III and IV. The company has made over 600 investments till date and has exited around 80 companies since 2022.
ICICI Venture’s investments include Go Fashions India, Theobroma Foods, Metropolis Health Services, Home Solutions (a subsidiary of Pantaloons Retail, owned by Aditya Birla Group), Bharat Biotech and Epack Durable Pvt Ltd.
Early this year, ICICI Venture’s managing director and the chief executive officer Puneet Nanda said that the company is in the midst of raising its fifth fund in the private equity space. The firm was in talks to raise at least $350-400 million (around ₹2,600-3,000 crore) for its fifth PE fund and also mulling launching an early-stage growth fund.
"We are now in the midst of raising our fifth fund in the private equity (PE) space. We first go to the existing investors. Some of them are going to significantly give a higher ticket,” Nanda had told VCCircle in March.
