Former Mayfield India executive Subeer Monga has joined ICICI Venture as a partner. ICIC Venture is the alternative investment arm of ICICI Bank.

The Mayfield had been associated to Monga since April 2010. In October of last year, he was promoted to partner at the private equity firm. He worked on Mayfield's ventures in India according to his prior resume.

The real estate investment start-up Strata, the fintech platform Lendingkart, the spending management platform Enkash, the online meat delivery service Licious, the quick-service restaurant (QSR) Box8, and the alcohol-beverage café QSR chain The Beer Cafe are just a few of the notable Mayfield investments on which Monga worked.

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 more than 600 investments till date and has exited about 80 companies since 2022. 

ICICI Venture has invested across sectors; including Go Fashions India, Theobroma Foods, Metropolis Health Services, Home Solutions, Bharat Biotech and Epack Durable.

Puneet Nanda, managing director and chief executive officer of ICICI Venture, stated at the beginning of the year that the company is now raising its fifth private equity fund. The company was considering launching an early-stage growth fund and was negotiating to obtain at least $350-400 million for its fifth PE fund.