Participated · Equity · Dec 2025

ICICI Prudential AMC is the asset-management subsidiary of ICICI Bank, partnering with UK-based Prudential Corporation Holdings. The firm manages a diversified suite of mutual funds and other investment products for retail and institutional clients. To prepare for a public listing, the company completed a sizeable pre-IPO round and has now set a ₹2,061–2,165 per-share price band for its upcoming ₹10,602-crore initial public offering, which will run from 12-16 December with listing expected on 19 December. The planned IPO is structured entirely as an offer-for-sale of over 4.89 crore shares by Prudential, so the company itself will not receive those proceeds. The pre-IPO equity placement valued the AMC at roughly ₹1.07 lakh crore (US $11.9 billion), highlighting strong investor demand. Post-placement, ICICI Bank increased its stake to 53 percent, while Prudential’s share will be correspondingly reduced ahead of the IPO. On listing, ICICI Prudential AMC will become the fifth asset-management firm and the fifth ICICI Group entity to trade on Indian exchanges.

Participated · Equity · Oct 2025

Founded in May 2016 and headquartered in Bengaluru, WeWork India provides a range of flexible workspace solutions under the global WeWork brand. Its portfolio spans 59 operational centres with 94,440 desks across 6.48 million square feet of leasable area as of September 30 2024. Management states the business is now self-sustaining, having invested heavily in infrastructure over the past eight years and recently using internal funds to pay down debt. Current cash generation is sufficient to fund ongoing operations and further expansion, so the company is not seeking primary capital in its IPO. Instead, the listing is intended to provide liquidity and position the company for future growth opportunities using existing resources. WeWork India benefits from affiliation with WeWork Global, which operates in 35 countries and roughly 600 locations worldwide, augmenting brand recognition and enterprise customer acquisition.

Led · Equity · Aug 2025

Seshaasai Technologies Ltd is a technology-driven provider of payment solutions that crafts payment and communication instruments such as debit and credit cards. The company has received regulatory approval for its IPO. It executed a private placement of 28.4 lakh equity shares at Rs 423 each as part of a pre-IPO capital raise. Seshaasai secured Rs 120 crore in the round. The fresh proceeds will be used to expand manufacturing, reduce debt, and for general corporate purposes. Investors in this raise include Tata AIG General Insurance Company, VQ FasterCap Fund II and Valuequest India G.I.F.T Fund, with Tata AIG taking 14.18 lakh shares and the other funds taking 7.09 lakh shares each.

Participated · Equity · Jun 2023

IdeaForge Technology develops and manufactures unmanned aircraft systems and related drone solutions for dual‑use (civil and defense) customers. The company has been a market leader in India's UAS market, commanding roughly a 50% market share in fiscal 2022. Founded in 2007 at IIT Bombay, IdeaForge has attracted strategic and financial backers including Qualcomm Asia, Infosys, and Celesta Capital. Management is advancing a public listing and has completed private placements ahead of the IPO. Proceeds from the planned IPO are intended to repay existing debt, meet operating capital needs, and fund product development and other corporate purposes. Recent capital raises and the pending IPO indicate a push to scale operations and invest in product R&D. ideaForge is a drone manufacturer. The article reports that the company has closed a $20 million Series B financing. The round was led by Florintree, which is owned by Mathew Cyriac, the former India private equity co-head of Blackstone. The article does not provide product-level detail, future plans, or operating metrics such as revenue or user counts. No information on prior funding rounds, valuation, founding year, or location is included in the article. Coverage is limited to the announced Series B and its lead investor. ideaForge develops vertical takeoff and landing (VTOL) and other unmanned aerial vehicles for surveillance and defense applications, including its SWITCH VTOL UAV capable of high‑altitude and day/night operations. The company serves multiple homeland and security agencies in India and offers a range of customizable products for varied use cases. ideaForge says it has deployed more than 1,000 drones since inception and has applied for over 20 patents in Indian and international markets. The startup was founded in 2007 by Ankit Mehta, Rahul Singh, Ashish Bhat, and Vipul Joshi. Recent financing activity and strategic investors are intended to support execution of a growing order book and scale operations. ideaForge is an Indian startup that develops unmanned aerial vehicle (UAV) solutions. Its UAVs feature fully autonomous operation, fail-safe technology, high endurance, image intelligence with live feed, and support for complex payloads such as thermal and high-resolution imagery. The company’s drones have been deployed by the Indian Armed Forces for surveillance, crowd monitoring and rescue operations. ideaForge also offers its systems for commercial applications in verticals such as energy, utilities, telecom and agriculture. Infosys’ Innovation Fund committed an investment in the company (amount undisclosed). The transaction is subject to receipt of regulatory approvals and customary closing conditions.