Disburses over Rs 275 crore in loans in 2015 and registers 100% growth over the last year
Mumbai, February 9, 2016: InnoVen Capital, India’s first and largest venture debt and specialty lending business
announces completing 100+ venture debt deals in the country. The total amount of debt finance that InnoVen has disbursed in 2015 was over Rs. 275 crore across 27 transactions. It witnessed a massive 100% growth over the previous year in terms of number of clients and loan volumes. This year, InnoVen Capital aims to provide fresh funding in excess of $65 million.
Since 2008, InnoVen Capital has grown steadily by making an aggregate of 101 loans with total cumulative disbursements of around $150 MM till date. It has provided debt financing to approximately 70 companies.
Speaking on the milestone number of deals closed, Ajay Hattangdi, Group COO and CEO India said, “We are pleased to start 2016 on the high note of having crossed a 100 plus deals in India. We constantly endeavour to encourage entrepreneurs and high-potential ideas with our support through debt capital options. Last year has been phenomenal in terms of growth as well as evolution for us as a company.
With the significant capital commitment of $200 million from our investors Temasek and United Overseas Bank, and a solid team of 11 professionals, we hope to continue the strong momentum we’ve been able to build in the business and reach out to many more great companies this year.“ While InnoVen Capital is sector agnostic, in 2015 the top sectoral themes have been healthcare, education and analytics. The company has 30+ VC relationships that it works with on venture debt transactions.
About InnoVen Capital
InnoVen Capital India (formerly known as SVB India Finance) started in 2008 as the first dedicated venture debt provider in India. InnoVen Capital has received investments from Temasek and United Overseas Bank, and is currently the leading debt financing partner of choice for high-growth entrepreneurial start-ups backed by institutional venture capital firms. The NBFC offers multiple sources of diverse debt capital including venture debt, acquisition financing, growth capital and capex financing, and has also recently started operations in South East Asia.
Till date, InnoVen Capital India has provided over 100 loans to 70 companies across early to mid-growth stage that include Snapdeal, Freecharge, Myntra, Practo, Portea, PepperTap, Byju’s, Faasos, Capillary Technologies and Manthan Systems. For more information on InnoVen Capital India, please visit www.innovencapital.com and follow them on Twitter at @InnoVenCap_IN