 "Temasek acquires SVB India Finance for Rs 300 cr")
Temasek Holdings, the Singapore government-owned sovereign fund, has acquired SVB India Finance, a leading debt-financing company, for Rs 300 crore. Post acquisition, SVB India Finance has been renamed as InnoVen Capital India.
Innoven Capital India is the leading provider of debt financing to VC-backed early stage and mid-growth companies.
Till date, SVB India Finance (InnoVen Capital India) has provided over 75 loans to more than 50 companies in India, aggregating an outlay of more than $110 million of venture debt in India.
Ong Beng Teck, Managing Director, Enterprise Development Group, Temasek, said: “India is a central piece of that initiative. We believe that the platform will be attractive to the start-up community in India – entrepreneurs, venture capitalists and angel investors – not just in the context of promoting the growth of innovative companies in India but also for their expansion as they seek to venture beyond India.”
Innoven Capital India is the leading provider of debt financing to VC-backed early stage and mid-growth companies.
Till date, SVB India Finance (InnoVen Capital India) has provided over 75 loans to more than 50 companies in India, aggregating an outlay of more than $110 million of venture debt in India.
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Some of the companies funded include Prizm Payments, Snapdeal, Myntra, Freecharge, Manthan Software, Firstcry, Faasos, Practo and Capillary Technologies.
Ong Beng Teck, Managing Director, Enterprise Development Group, Temasek, said: “India is a central piece of that initiative. We believe that the platform will be attractive to the start-up community in India – entrepreneurs, venture capitalists and angel investors – not just in the context of promoting the growth of innovative companies in India but also for their expansion as they seek to venture beyond India.”
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