InnoVen Capital disburses Rs 173 cr in second quarter

NEW DELHI: InnoVen Capital, India's largest venture debt provider, has closed transactions estimated a $26 million (about Rs 173 crore) in the second-quarter of the current fiscal, the Temasek-backed specialty finance firm announced on Monday, reports Biswarup Gooptu.

The venture debt financing for the quarter ending September 30 represents a 30% uptick from the year ago period, when the firm disbursed Rs 133 crore spread across 15 transactions. As of last month, InnoVen Capital has cumulatively funded venture debt of about $270 million in more than 125 startups across India and southeast Asia.

"We are seeing strong interest from startups to explore venture debt as a means of financing. Given our Asian footprint across India, southeast Asia and recently, China, we are able to offer a unique value proposition to support Indian companies which have global aspirations," Ashish Sharma, the chief executive of InnoVen Capital, said in a statement.