InnoVen Capital

What InnoVen Capital does

InnoVen Capital is Asia's leading venture lending platform providing debt capital to high-growth, venture-backed technology companies from Series A through pre-IPO stages. Established in 2015 as a Joint Venture between Seviora (a wholly owned subsidiary of Temasek) and United Overseas Bank, the firm operates three regional platforms spanning India (Mumbai and Delhi NCR), China (Beijing and Shanghai), and Southeast Asia (Singapore), with offices also covering broader SEA markets. Its core product is a medium-term venture loan to VC-backed technology companies, structured with fixed interest rates and fees over the loan tenor, typically monthly principal and interest repayments, and an equity 'kicker' (warrants) providing upside at liquidity events such as IPOs or buyouts.

The platform is supported by multiple regulated fund vehicles: InnoVen Capital India Fund I and II (SEBI-registered Category II AIFs), InnoVen SEA Fund, InnoVen China Fund I, and InnoVen China Fund II (a USD-RMB Dual Currency Fund with anchor commitments from local Chinese government entities). The firm also operates an RBI-registered NBFC platform in India. Cross-border lending infrastructure, regional team presence, and the China dual-currency capability are key platform differentiators, alongside deep institutional LP backing from Temasek and UOB and a recurring co-lending network that includes Ares Management, January Capital, BlackSoil, Trifecta Capital, Alteria Capital, and Gobi Partners.

InnoVen's go-to-market is direct, founder-centric, and network-led: Managing Partners and investment teams source and execute venture debt transactions directly with VC-backed founders across sectors spanning consumer brands, SaaS, fintech, edtech, healthtech, mobility, deep tech, ESG, and semiconductors. Brand and deal flow are reinforced through flagship content publications (Startup Outlook Report, ESIIR), the LEVEL UP webinar series, and active participation in regional VC/PE forums. As of the input data, the platform has deployed $1.9B+ in capital across 770+ debt transactions, supported 420+ portfolio companies that collectively raised $58B+ in equity from top-tier VCs, and counts 50+ unicorns among its portfolio, including the recently listed Mininglamp Technology on HKEX.

Name

InnoVen Capital

Website

http://www.innovencapital.com/

Company type

Private

Founded year

2014

Headcount range

1–10 employees

Short description

InnoVen Capital is Asia's leading venture debt platform, providing medium-term loans and equity-linked warrants to VC-backed technology companies from Series A through pre-IPO stages. Established in 2015 as a JV between Temasek (via Seviora) and UOB, it operates across India, China, and Southeast Asia with $1.9B+ deployed across 770+ transactions.

Ownership category

akta.pro rank

Product category

Venture Debt

NAICS

Credit Intermediation and Related Activities (522), Investment Banking and Securities Intermediation (523150)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Independent Venture Debt Funds / Platforms (FSANAIAB)

akta.pro secondary industries

Bank-affiliated Venture Debt Lenders (FSANAIAA), IP-Backed Venture Debt Lenders (FSANAIAH), Direct Lending — Venture Debt (FSAHAJAD)

Keywords

• Venture debt financing
• Venture lending platform
• Structured credit solutions
• Growth capital lending
• Non-dilutive financing

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Venture Debt Interest Income: Core revenue stream generated from medium-term loans to VC-backed technology companies, with fixed interest rates and fees over the loan tenor and typically monthly principal and interest repayments.
2. Equity Kicker / Warrant Upside: Additional return component from warrants attached to venture loans that deliver equity upside if the borrower achieves a successful liquidity event such as an IPO or buyout.
3. Fund Management & Origination Fees: Fee-based revenue from managing multiple regional venture debt funds (InnoVen Capital India Fund I/II, InnoVen SEA Fund, InnoVen China Fund I/II) raised from institutional LPs including Seviora (Temasek), UOB, and Chinese government entities.

Pricing tiers

Go-to-market motion5 records

Distribution channels4 records

Marketing channels9 records

Core offering

InnoVen Capital provides venture debt financing (medium-term loans) to high-growth, venture-backed technology companies across Asia. Loans carry fixed interest rates and fees over the loan tenor, typically monthly principal and interest repayments, and include an equity 'kicker' (warrants) providing upside at liquidity events such as IPO or buyout. The firm operates regulated fund vehicles in India (NBFC and SEBI-registered Category II AIFs), Southeast Asia (InnoVen SEA Fund), and China (InnoVen China Fund I and InnoVen China Fund II USD-RMB dual currency fund), originating debt directly with founders alongside their equity rounds.

Differentiator

Problem solved

Functional benefit

Products and services

• Venture Debt Financing Medium-term loan product provided to VC-backed technology companies from Series A through pre-IPO across Asia. Loans carry fixed interest rates and fees over the loan tenor, with monthly principal and interest repayments, and include an equity kicker (warrants) for upside at liquidity events such as IPO or buyout. Used to extend cash runway, finance growth, fund M&A, or bridge to the next equity round.
• InnoVen Capital India Fund (SEBI-registered Category II AIF) SEBI-registered Category II Alternative Investment Fund vehicle for originating venture debt to VC-backed Indian technology startups across consumer, SaaS, e-commerce, logistics, mobility, education, health, agri-tech and D2C sectors. Investment Manager: Innoven Triple Blue Capital Advisors LLP.
• InnoVen Capital India Fund II (SEBI-registered Category II AIF) Second SEBI-registered Category II AIF scheme of Innoven Capital India Trust, used to continue originating venture debt transactions to VC-backed Indian startups across growth stages.
• InnoVen SEA Fund Southeast Asia-focused venture debt fund providing non-dilutive debt capital to high-growth, VC-backed technology companies across Singapore, Indonesia, Vietnam, Philippines, Thailand, and Malaysia. First close US$50M completed October 2021.
• InnoVen China Fund I First China-dedicated venture debt fund, investing in over 20 high-growth and innovative Chinese startups across consumer, enterprise service, fintech, deep tech, and healthcare sectors. Achieved a DPI of 13% and first equity exit in 2023.
• InnoVen China Fund II (USD-RMB Dual Currency Fund) Second China venture debt fund structured as a USD-RMB Dual Currency Fund, enabling cross-border lending in both USD and RMB to Chinese high-growth startups. Anchor commitment from InnoVen Capital and two local Chinese government entities; targets deep tech, enterprise services, consumer, healthcare, and carbon-neutral sectors.

Quantifiable outcome

• $1.9B+ capital invested via venture debt across Asia
• +5 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Gobi Partners (Meranti ASEAN Growth Fund)coreStrategic or Co-development PartnerDeep ecosystem partnership in Southeast Asia; three of Gobi's portfolio companies received venture debt funding from InnoVen in 2017, with stated intent to increase collaboration through Gobi's Meranti ASEAN Growth Fund. Kay-Mok Ku (Managing Partner, Gobi Partners) is a public testimonial partner.
• Tookitaki (co-lending/ecosystem partner)minorStrategic or Co-development PartnerSingapore-based regtech company that partnered with InnoVen during its Series A in late 2019; ongoing relationship where InnoVen has supported the company across growth-stage financing rounds (per COO Jeeta Bandopadhyay testimonial).
• LanturnminorGTM or Marketing PartnerFintech/compliance platform that hosted InnoVen Capital SEA Partner Paul Christopher Ong at its Lanturn Forum in July 2022 to discuss venture debt in funding slowdowns (event co-marketed).
• EYE Investment Club (SMU)minorGTM or Marketing PartnerSMU student investment club that hosted its annual Investment Symposium on October 15, 2022 where InnoVen Capital SEA Partner Ben Cheah shared insights on venture debt.
• DealStreetAsiaminorGTM or Marketing PartnerPan-Asia financial media platform whose Indonesia PE-VC Summit on January 9, 2023 featured InnoVen Capital SEA Partner Paul Christopher Ong as a panelist discussing alternative capital amid funding winter.
• Wavemaker PartnersminorGTM or Marketing PartnerSEA VC firm whose partner Bernie Margulies co-presented InnoVen's LEVEL UP webinar on 'AI Investing in Southeast Asia' on March 13, 2024, sharing insights on AI deals and portfolio boards.
• Kaya FoundersminorGTM or Marketing PartnerPhilippines-based founder community that co-hosted a panel and networking evening with InnoVen Capital SEA in Manila on June 14, 2023 on 'Optimizing Growth Through Venture Debt and Equity' at Common Ground Rockwell.
• DSG Consumer Partners and Trihill CapitalminorGTM or Marketing PartnerConsumer-focused VCs that partnered with InnoVen Capital SEA as Community Partner for 'The Consumer VC' founder event in Jakarta on July 24, 2023.

Scale indicators12 records

Recent moves9 records

Expansion highlights5 records

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/InnoVenCap_IN
• LinkedInlinkedin.com/company/innoven-capital-india-pvt--ltd-

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments272 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about InnoVen Capital