Of the total disbursements in H12018,60 percent was contributed by follow-on funding to existing portfolio companies to support them through their growth journey.
Venture debt financing company, InnoVen Capital India closed 22 transactions and disbursed funding worth Rs 300 crore in the first half of 2018 (H12018) out of a committed Rs 418 crore. This translates into a 30 percent growth in disbursements over the same period last year.
The funds were disbursed to various sectors such as logistics, B2B e-commerce, consumer, education and financial technology. 10 new companies were added to InnoVen’s portfolio, including Eruditus, Elastic Run, FreshMenu, Flintobox, Lucideus, and Ziploan.
Nearly 60 percent of the total disbursements in H12018 was contributed by follow-on funding to existing portfolio companies to support them through their growth journey.
Some of the follow-on funding transactions of InnoVen India include Pepperfry, Power2SME, Chaipoint, Capillary, Treebo, Bizongo, Epigamia, Shadowfax.
“We closed 22 transactions in the first half on the back of a strong deal flow & robust follow-on funding activity with our portfolio companies. We observe more and more startups warming up to venture debt as they look to optimize their capital structure while reducing dilution. We continue to derive our strength from our well-diversified portfolio, strong relationships and a global footprint across India, South-East Asia, and China," said Ashish Sharma, CEO, InnoVen Capital.As of June 2018 end, InnoVen Capital India cumulatively funded venture debt worth over $330 million in more than 120 innovative tech start-ups across India.