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InnoVen Capital Invests $20 Million in 15 Deals

InnoVen Capital Invests $20 Million in 15 Deals

ANI- Asia’s leading venture debt and specialty lending business InnoVen Capital has announced deals funded in the second quarter for FY17. The company has provided venture debt worth over $20 million in 15 deals across new clients on-boarded and existing portfolio companies that have exhibited strong performance.

Among the new clients that InnoVen Capital has added to its growing portfolio are: OYO Rooms – Indian hotel brand that owns and operates as well as aggregates standardized hotel rooms, RAW Pressery – fresh cold pressed juices, and Rentomojo – online furniture rental platform.

Between July and September this year, InnoVen as a platform has also closed its first two cross-border deals with Capillary Technologies and Simplilearn, in order to cater to their global aspirations and requirements.

“InnoVen had another strong quarter led by traction in the consumer sector. While the equity environment continues to remain lukewarm, we believe that strong businesses are able to attract capital – both equity and venture debt and in fact venture debt is growing in proportion to equity. We have also started two new initiatives – InnoVenConnect and InnoVenSupport to contribute to the ecosystem by providing platforms for networking for early stage founders and investors,and also enable assistance in functional areas like Finance, Marketing, Legal, etc”, said¬†Vinod Murali, Managing Director, InnoVen Capital.

Temasek and United Overseas Bank (UOB) are the investors in InnoVen Capital, and have committed a total of $200 million for building out the platform in Asia.

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