Singapore-headquartered venture debt firm Innoven Capital received an additional USD 200 million in funding from its shareholders – Temasek Holdings and United Overseas Bank (UOB). The firm said it’s doing this in anticipation of the massive potential that Asia’s venture debt space offers.
Innoven Capital was formed back in 2015 after UOB and Temasek Holdings jointly acquired Silicon Valley Bank’s India business. The company offers structured debt solutions ranging from venture debt, acquisition finance, growth loans, to working capital facilities for startups to accelerate their growth while minimizing equity dilution.
Innoven has provided capital to food delivery platform Swiggy, budget hotel startup RedDoorz, Indian hotel chain Oyo Rooms, Indonesian online lender Akulaku, and online retailer Pomelo Fashion among others. In all, the company says it has supported more than 200 startups across India, China, and Southeast Asia.
Editor: Nadine Freischlad