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ICICI Venture was conferred the Best Private Equity Firm in India Award for 2007 and 2008, by Private Equity International Asia (PEI Asia) as a part of its annual Private Equity Awards. PEI is a leading financial information group dedicated to the alternative asset classes of private equity, real estate and infrastructure globally.  The selection of the award winner was primarily based on poll conducted amongst leading private equity firms and readers of PEI International and PrivateEquityOnline.com.

In 2010, the firm received the award for "Indian Private Equity Exit of the Year" and "Indian Private Equity Professional of the Year" from the Asian Venture Capital Journal or AVCJ, a reputed industry publication. The selection of the award winner was based on a process of nominations and voting within a cross section of the Asian PE and VC community.

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