InnoVen Capital, Asia’s leading venture debt provider, said Tuesday that it has received an additional $200 million capital commitment from its shareholders, Temasek and United Overseas Bank Limited, each contributing $100 million.
The additional commitment will allow InnoVen Capital to tap on the immense potential in the venture debt space across Asia.
InnoVen Capital operates in India, China and SE Asia and has supported more than 200 start-ups, investing $500 million. InnoVen brings in a diversified portfolio, Asia-wide footprint and access to its shareholders network.
Ashish Sharma, CEO, InnoVen Capital India, said, ‘‘As the largest venture debt provider in India and a leading player in Asia, we are excited to continue working with passionate founders to support innovative ideas. Access to additional equity capital along with the ability to leverage the balance sheet will position us well, as we drive an ambitious growth agenda.’’
Chin Chao, CEO, InnoVen Capital Singapore and Southeast Asia, said, ‘‘InnoVen has rapidly become the leading venture lender in Southeast Asia, helping entrepreneurs accelerate their company’s growth while minimising equity dilution. The additional capital from our shareholders allows us to engage even more start-ups and to continue to build out a truly, unique platform which allows InnoVen to collaborate with the best VCs, corporates and entrepreneurs from across all of Asia.’’
Yingxue Cao, Managing Director, InnoVen Capital China, said, ‘‘InnoVen Capital China entered the China market a little over a year ago and has already built a portfolio of nearly 30 leading start-ups across sectors. With the additional capital commitment from our shareholders, I firmly believe that InnoVen Capital will continue to promote the growth of more innovative companies, and provide more diversified forms of financing for start-ups in Asia.’’
InnoVen Capital is Asia's leading venture lending firm with offices in India, China and Singapore. Started in 2008 as the first dedicated venture debt provider in India, the platform now operates across China, India and Southeast Asia. It offers multiple structured debt solutions to high growth ventures, including venture debt, acquisition finance, growth loans, working capital facilities, etc. Some of the prominent investments made by InnoVen include Swiggy, Oyo Rooms, Byju’s, FirstCry, BlackBuck, GreyOrange, Quikr, Rivigo PepperFry, Yatra, Momenta, Akulaku, Carsome and RedDoorz.