InnoVen Capital India closes 15 deals worth over USD 20 million in Q2 FY2017

New Delhi [India], Oct 6 : 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 USD 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 includes OYO Rooms, RAW Pressery, Rentomojo, Treebo, HolaChef, Fabhotels amongst others.

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.

Further, InnoVen has also been able to leverage its relationship with various partner banks and by extension, has added other debt options such as working capital facilities and operating lease structures to offer capital efficient solutions to their portfolio companies.

"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 and others," said Managing Director InnoVen Capital, Vinod Murali.

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

Source: ANI