Temasek acquired InnoVen Capital India for 300 crore rupees

Singapore-based investment firm Temasek on 14 April 2015 acquired InnoVen Capital India, formerly known as SVB India Finance, for 300 crore rupees.

With this acquisition, Temasek announced its entry into the venture debt segment.

InnoVen Capital India will be independently managed with a reconstituted board of 5 members, comprising Madhabi Puri Buch, former chief executive officer of ICICI Securities, as chairperson.

Temasek has assets under management to the tune of 177 billion US dollar as on 31 March 2014, and has actively invested across sectors like financial services, telecom, media, technology, life sciences, consumer and real estate.

InnoVen Capital India provides debt financing to venture capital-backed companies like Snapdeal, Myntra, Freecharge and Practo. It has provided over 75 loans to more than 50 companies in India, aggregating an outlay of over 110 million US dollar of venture debt in India.