InnoVen Capital - Asia's Leading Venture Lending Firm
InnoVen Capital is a privately held Indian venture debt and specialty lending business located in Mumbai Maharashtra. Known as the top venture lending firm in Asia, InnoVen Capital provides debt capital to high growth innovative ventures mainly backed by venture capital companies.
InnoVen Capital is focused on high growth economies and currently has an operational presence in India, South East Asia, and China.
Overview of Innoven Capital
InnoVen Capital is a privately held Indian venture debt and specialty lending business located in Mumbai Maharashtra. Known as the top venture lending firm in Asia, InnoVen Capital provides debt capital to high growth innovative ventures mainly backed by venture capital companies. InnoVen Capital is focused on high growth economies and currently has an operational presence in India, South East Asia, and China. There are plans to expand to other suitable economies in the region. InnoVen Capital is a joint venture between UOB and Temasek and has offices in Mumbai, Singapore, and Beijing.
InnoVen Capital first opened its doors in 2008. It was previously known as SVB India Finance and was rebranded after being acquired by Temasek Holdings in 2015. After the acquisition, InnoVen expanded its global reach to include InnoVen Capital South East Asia and InnoVen Capital China.
InnoVen Capital South East Asia was launched in Singapore in July 2015 and has since become the largest provider of venture debt to startups and growth stage companies in the region. InnoVen is now extensively used by portfolio companies for growth acceleration and to extend cash runway while ensuring that equity dilution is as minimal as possible. In April 2017 InnoVen Capital China was launched with the goal of supporting the growth of top next-generation companies throughout China. InnoVen China’s specific area of focus is to provide capital backing to high-growth startups following their series A funding. The company endeavours to provide entrepreneurs with a range of financing options in support of enterprise development without having to resort to the dilution of mortgaging or equity assets.
With a portfolio of more than 110 companies, InnoVen Capital has raised over US$3 billion in equity. In July 2018 it was announced that InnoVen Capital would back Eruditus Education Pvt. Ltd., a company that offers executive learning programmes across the globe, with US$2.3 million. The Mumbai-based company said that the funding will be used to expand its service offering internationally to markets including South East Asia and Latin America.
Major investments in the InnoVen Capital portfolio include companies in a variety of industries including:
- Analytics – Germin8, Vizury, Manthan
- Finance – iCreate Softwere, Prizm Payment Services, Chillr, MSwipe, NetAmbit, Coverfox
- Food – Raw, Faasos
- Healthcare – Guavapass, Practo, Eye-Q, Portea, Attune, Suburban Diagnostics, Koyè, Sayre Therapeutics, Perfint, Core
- Logistics – Zoomcar, MoveInSync, PepperTap, Shadowfax, Zopnow, ridlr, Xpressbees, Zipco, Blackbuck, Blowhorn, Porter
InnoVen Capital in the News
In June 2018 The Times of India reported that InnoVen Capital would form a partnership with Portea Medical, a leading consumer healthcare provider in India. The partnership was formed with the goal of arranging 26 health camps at several NGOs across four cities. It was reported that InnoVen Capital disbursed around US$44 million of over US$60 million it has committed to in the first half of 2018. It was also stated that the firm recorded a 30% growth during this period.