Gabriel Budi Sutrisno · · 1 min readInnoVen Capital launches second China fund, aiming for $250m
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InnoVen Capital, which provides venture debt to high-growth tech companies, has launched its second fund in China, the company said in a statement.
Called InnoVen China Fund II, it has a target size of US$250 million. The company said it has already secured around half of this amount.
This adds to InnoVen Capital’s increased efforts in expanding outside Singapore and India, where the venture debt firm also has offices.
Its Southeast Asia-focused fund raised US$50 million in its first close in 2021, following a US$200 million commitment in 2016.
In China, the company – which is a joint venture between Temasek-owned Seviora and United Overseas Bank – has invested in over 100 startups since 2017, disbursing over US$400 million in total.
InnoVen’s China portfolio includes 20 startups backed through its China Fund I, which was launched in November 2021. Among them are AI solutions providers Mininglamp Technology and NextVPU, as well as biopharmaceutical firm CBMG.
See also: Meet the 100 top-funded startups and tech companies in China
Editing by Miguel Cordon and Dhania Putri Sarahtika
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