Temasek and United Overseas Bank Limited invests $200 Million in InnoVen Capital

Key Highlights

United Overseas Bank Limited and Temasek invest $200 Million in Innoven Capital.

Innoven Capital has recently invested debt capital of Rs 12 crore in healthcare platform Docsapp.

InnoVen has become the leading venture lender in Southeast Asia.

Innoven Capital raises another $200 Million from its existing investors including United Overseas Bank Limited and Temasek. Each of them invested $100 Million in the firm. According to a statement by InnoVen, the additional commitment will permit it to tap the immense potential in the venture debt space across Asia. The company is operational in India, South Asia, and China. It has supported more than 200 startups, with over $500 million in financing.

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According to Ashish Sharma, chief executive at InnoVen Capital India, “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.” Since the past two years InnoVen has been aggressively investing in the Indian startup ecosystem and it has recently invested debt capital of Rs 12 crore in healthcare platform Docsapp. It has released a report stating it had given Rs 300 crore of a committed Rs 418 crore.

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According to Chin Chao, CEO, InnoVen Capital Singapore, and Southeast Asia, “InnoVen has become the leading venture lender in Southeast Asia, assisting entrepreneurs in accelerating their company’s growth while minimizing equity dilution. The additional capital from our shareholders permits us to engage even more startups and to continue to build out a truly unique platform which permits InnoVen to collaborate with the best VCs, corporates, and entrepreneurs from across all of Asia.” InnoVen Capital invested about Rs 600 crore across 36 companies in 2018, registering a 28% increase in the funding amount it has deployed. It has provided venture debt to various companies including Rentomojo, Pepperfry, Mswipe, Capillary Technologies, Blackbuck, Mswipe, ShopClues and Swiggy. Its recent investments in India include scooter-sharing platform Bounce, doctor consultation startup DocsApp and Alibaba Group-backed e-commerce Logistics Company, Xpressbees.

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