InnoVen Capital, an Asia’s leading venture debt and specialty lending business, has recently released its year-ending performance report for the India business. The report highlights that InnoVen India invested over INR 600 Crores across 36 companies, a 28% year-on-year increase over 2017.
Innoven Capital is backed by Temasek Holding, which is an investment arm of Singapore government.
It added 21 new companies to its portfolio, including several high-potential startups such as Eruditus, GreyOrange, Bounce, DailyHunt, ElasticRun, Licious and CogoPort.
The latest performance report underlines the strong momentum that the platform is carrying forward into 2019, with 6 more transactions to close in early 2019. The performance was strongly supported by strong follow-on investment activity, where InnoVen deployed INR 250 Crores with 15 existing portfolio companies.
The average ticket size of the investment was INR 17 crores, which was a marginal increase over 2017. B2C businesses contributed 70%, while B2B contributed the remaining 30% of all investments in 2018. The key sectors where investments were made included Consumer Internet, Enterprise-tech, Logistics, Food & Healthcare.
The funding in 2018 brings the total amount of venture debt extended by InnoVen India since its inception to more than $350 million, through 200+ transactions with 130+ companies.
Speaking about the performance for the year and continued growth, Ashish Sharma, CEO – InnoVen Capital India, said, “2018 has been our best year ever, as we broke through previously established milestones and set several new ones. We committed INR 700 Crores this year, across 42 companies. We are particularly pleased with the strong momentum in our portfolio companies which raised over $3.5 Billion of capital this year. We are also proud to count 7 Unicorns as part of our Portfolio. As a leading venture debt firm in Asia and the largest player in India, we are committed to continue working with passionate founders and support innovative ideas.”
InnoVen is a pan-Asian venture debt platform with offices in Mumbai, Gurgaon, Singapore and Beijing. The platform offers multiple debt capital solutions, including venture debt, acquisition finance, growth loans, and syndication.
Some of the prominent portfolio companies include Swiggy, Oyo Rooms, Byju’s, Yatra, Quikr, FirstCry, Blackbuck, Pepperfry, Shaadi.com, Practo, Manthan and Capillary Technologies in India.