Temasek, an investment company based in Singapore acquired InnoVen Capital India, formerly SVB India Finance for approximately INR 300 crores.
SVB India Finance (now InnoVen Capital India) is provides venture debt to high-growth, innovative companies. The acquisition marks as Temasek’s first step towards building a pan-Asian venture lending platform.
“ The funding and support from Temasek,will not only help us continue to remain the dominant player in venture debt business in India but also build a leading debt platform across key markets in Asia,” says Ajay Hattangdi, CEO & Managing Director, InnoVen Capital India
InnoVen Capital India has provided over 75 loans to more than 50 companies in India, aggregating an outlay of more than USD 110 million of venture debt in India. Some of the high-growth, innovative companies funded include PrizmPayments, Snapdeal, Myntra, Freecharge, Manthan Software, Firstcry, Faasos, Practo and Capillary Technologies.