The origins of IIML date back eighties when it was founded as Credit Capital Venture Fund (India) Limited (CCVF), an affiliate of Lazard Brothers. CCVF was the first private sector venture capital company in India, and managed a number of small sector focused funds apart from investing its own proprietary capital.

Infrastructure Leasing & Financial Services Limited (IL&FS) acquired CCVF, completed an intensive management and financial re-structuring, merged its own private equity business into CCVF and renamed it IL&FS Investment Managers Limited (IIML).

IL&FS retains management control of IIML. IIML is listed on the National Stock Exchange (Stock Code:IVC) and the Bombay Stock Exchange (Stock Code:511208).