InnoVen Capital receives $200 mn new funding commitment from Shareholders
Venture debt provider, InnoVen Capital announced that it has received an additional US $200 million capital commitment from its shareholders.
Venture debt provider, InnoVen Capital announced that it has received an additional US $200 million capital commitment from its shareholders, Temasek and United Overseas Bank Limited, each contributing US $100 million each. 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 200+ start-ups, with over US $500 million in financing.
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 minimizing 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 startups 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.”