Published By : 12 Jan 2018 | Published By : QYRESEARCH
InnoVen Capital India, an Indian venture debt firm has gained over $75 mn in deployment through the year 2017, sticking to the script. The specialty financing firm, supported by Temasek, reported an annual rise of 25% and added twenty-two new enterprises to its portfolio in the last year. It has also committed facilities of $10 mn and has taken the overall disbursement quantum to $85 mn for 2018 across 35 to 40 deals, reaching its projected target of $80 to $100 mn for the ongoing financial year.
Ashish Sharma, the CEO of the firm, stated that the pace of the installation has doubled in the last few months where the company has achieved much more than what it did in the first 8 months of 2017. They also observed a strong uptake rate of venture debt in startups, which consisted of almost 60% of the total funding that the firm have gained so far.
A closer look at the numbers, however, shows that a large portion of the growth if the company has been gained in the Q1 of 2017, where it had put $37 mn, proliferating at the highest pace. The rise in the deal dynamics of InnoVen has been supported by the largest deal of venture debt of $15.73 mn to Yatra, an online travel marketplace, which is a cross-border deal with Indian as well as Singapore entities of the firm participating equally.