Miguel Cordon · · 1 min readVenture debt provider banks $200m from Temasek, United Overseas Bank
Southeast Asian venture lending firm InnoVen Capital received an additional US$200 million in capital commitment from shareholders Temasek and United Overseas Bank, each providing US$100 million.
Photo source: InnoVen Capital
InnoVen Capital plans to use the fresh commitment to further expand into Asia’s venture debt space. It currently operates in India, China, and Southeast Asia.
“The additional capital from our shareholders allows us to engage even more startups and to continue to build out a truly unique platform which allows InnoVen to collaborate with the best VCs, corporates, and entrepreneurs from across all of Asia,” said InnoVen Capital Singapore and Southeast Asia CEO Chin Chao.
The firm, which offers venture debt, acquisition finance, and growth loans solutions, claims to have supported over 200 startups with roughly US$500 million in financing. It has made investments in startups such as Swiggy, Oyo Rooms, Byju’s, UCommune, Momenta, Akulaku, Carsome, and RedDoorz, according to a statement.
Editing by Dante Gagelonia
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