ICICI Venture Funds Management Co Ltd said on Tuesday it has appointed Prashant Purker as its managing director and CEO with immediate effect.
Purker was previously executive director at ICICI Venture, the private equity firm said in a statement.
He replaces Vishakha Mulye, who was recently inducted into the board of the company’s parent ICICI Bank.
Purker has about 25 years of experience in global and Indian capital markets, across both equity and debt. He joined ICICI Venture in August 2009 and has been a member of the leadership team at ICICI Venture since then. He had been co-heading the private equity practice of the company.
Before joining ICICI Venture, Purker was at Nomura India and Lehman Brothers India as managing director and head of global finance for India in the investment banking division. Prior to that, he worked for five years at ICICI Bank, where his last role was senior general manager and head of global principal investment and trading group. He has previously also worked with Citibank and French financial services firm BNP.
According to a person aware of the development, Kalpesh Kikani, managing director at AION Capital, was the other contender for the top post at ICICI Venture.
AION Capital is a joint venture fund between ICICI Venture and Apollo management.
ICICI Venture is one of India’s largest and most active home-grown PE firms.