InnoVen Capital receives $200mn new funding commitment from shareholders

Venture debt provider InnoVen Capital Tuesday said it has received a capital commitment of USD 200 million (over Rs 1,400 crore) from its shareholders Temasek and United Overseas Bank Ltd. Both entities will contribute USD 100 million each and the additional commitment will allow InnoVen Capital to tap the immense potential in the venture debt space across Asia, a statement said.

InnoVen Capital operates in India, China and South East Asia and has supported over 200 start-ups with over USD 500 million (over Rs 3,500 crore) in financing. "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," InnoVen Capital India CEO Ashish Sharma said.

Chin Chao, CEO of InnoVen Capital Singapore and Southeast Asia, said the additional capital will allow it to engage with more start-ups and build a platform that allows collaboration with VCs, corporates and entrepreneurs from across Asia. Established in 2008, InnoVen has been an investor in companies like Swiggy, OYO Rooms, Byju's, FirstCry, GreyOrange, Quikr, Rivigo, PepperFry and Yatra, among others.

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