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ICICI Venture was founded in 1988 as the Technology Development and Information Company of India Limited, through a joint venture between the ICICI Limited and Unit Trust of India.
In 1998 it became a wholly owned subsidiary of ICICI Limited and was renamed ICICI Venture Funds Management Company Limited.
ICICI Venture is a wholly owned subsidiary of ICICI Bank Limited (which is the successor entity to ICICI Limited).