InnoVen Capital (InnoVen) today announced that it has appointed Chin Chao, Chief Executive Officer (CEO) of InnoVen, Singapore and Southeast Asia, as interim CEO for India. This will be effective immediately, while the Board continues the search for a permanent CEO.
Mr.Chin Chao has more than 15 years of experience in the venture capital and venture debt space and will succeed Mr. Ajay Hattangdi in leading the Group’s business in India, in addition to Singapore and Southeast Asia.
Mr. Shantanu Mitra, Chairman of InnoVen, said, “Our shareholders and Board remain committed to InnoVen. We have a strong and dedicated team on the ground in India, and are making good progress in identifying a new CEO to lead the company. Together with the team, Chin Chao will ensure that all our clients and partners remain well supported, and that start-ups looking to grow their business will have access to the strategic support and funding they require.We have also built deep relationships with the wider early stage tech ecosystem over the years and are positive that the strong business momentum will continue.”
InnoVen is a pan-Asian venture debt platform jointly owned by UOB and Temasek, with offices in Mumbai, Singapore and Beijing. As India’s oldest and largest venture debt platform, InnoVen has since supported and provided over $225 million in capital to more than 100 high growth and innovative tech start-ups across India. Portfolio companies include Oyo Rooms, Swiggy, Byju’s, Nestaway, Pepperfry, Prizm Payments, Shaadi.com, Shopclues, Myntra, Freecharge, Manthan Software, Firstcry, Practo and Capillary Technologies.