Mon, Mar 27, 2017 | updated 04:16 PM IST

InnoVen Capital adds 26 new companies to its portfolio

Updated: Jan 09, 2017 15:18 IST

New Delhi [India], Jan 9 (ANI): Asia's leading venture debt and specialty lending business InnoVen Capital has announced the deals done in the last quarter of 2016 and aggregate funds disbursed in the year.

During Q4 2016, InnoVen extended debt funding of more than Rs.110 crore in 13 new deals, whilst its deployment for the year totaled to almost Rs.400 crore across 43 loans to 35 start-ups of which 26 were new additions to the portfolio.

Since its inception, InnoVen has provided over Rs.1260 crore in venture debt across 140 deals from diverse sectors.

Those funded in the last three months include Swiggy (food ordering and

delivery service), Coverfox (online insurance provider), Furlenco (furniture rental-company), Flyrobe (apparel rental company), Zelo (branded PGs), Unbxd (site search and product recommendation solutions), Surewaves (advertising platform) and include repeat deals done with XpressBees (e-commerce logistics) and Universal Sportsbiz (celebrity fashion brands).

InnoVen continues to actively co-invest in diverse sectors such as e-commerce, food-tech, logistics, education, enterprise-tech and healthcare.

Out of the total funding, 55 percent comprised of venture debt to early stage companies whereas 45 percent was growth capital to businesses that are relatively larger. Furthermore, InnoVen also provided cross border funding to Capillary Technologies and Simplilearn to finance the global operations of these companies. Recently, the firm also launched InnoVen Credit Assistance Program (InnoVen CAP) in order to help select portfolio companies meet their working capital or capital expenditure needs in partnership with banks to structure debt solutions that can optimize overall cash flow efficiency for these businesses.

"Venture debt is steadily getting established as an important component of funding rounds. Our ability to fund cheque sizes ranging from Rs. 2 crore-50 crore allows us to straddle different lifecycle stages of companies. We are also actively exploring debt funding for growth-stage non-VC backed companies as well, which have the ability to show differentiation that translates to enterprise value. In these cases, our underwriting approach is a little bit different but we try and restrict this to new economy sectors where there is familiarity. India continues to be an attractive startup ecosystem but the recent phase of recalibration is a good wake up call to ensure value meets capital appropriately where venture debt, similar to equity, continues to be available in strong supply but the bar for good businesses has gone up sharply." (ANI)

New Delhi [India], Mar 27 (ANI): Punjab Agri Export Corporation Ltd. (PAGREXCO) has signed an MOU for an Exclusive Alliance for Ecommerce Enablement of PAGREXCO in association with Trendybharat.com. Under this agreement, Trendybharat.com will market, promote and sell Punjab Agro's organic products across India and overseas.

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New Delhi [India], Mar 27 (ANI-BusinessWireIndia): Tata Capital, the financial services arm of the Tata Group, today, announced the launch of 'myLoan' - a first-of-its kind Mobile App by the company to extend its existing personal loan offering to the emerging younger and mobile savvy audience.

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New Delhi [India], Mar 27 (ANI): India's largest online marketplace Snapdeal on Monday announced a range of initiatives launched at curbing fraudulent online transactions, are accruing massive cost savings for the company.

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New Delhi [India], Mar 27 (ANI): India's leading and fastest growing seed investment and innovation platform Venture Catalysts announced its participation in Series A funding round of Fynd, the unique fashion e-commerce portal with USD 500k.

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New Delhi [India], Mar 27 (ANI): Taxi aggregator Ola on Monday announced the launch of Ola Play, its connected car platform for ridesharing in Hyderabad.

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Jaitley tables Central GST Bill in LS

Updated: Mar 27, 2017 12:25 IST

New Delhi (India), Mar. 27 (ANI): Union Finance Minister Arun Jaitley on Monday tabled the Central Goods and Services Tax (GST) Bill 2017 in the Lok Sabha.

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New Delhi [India], Mar 25 (ANI): Vestas Wind Systems, the world's leading wind power solutions provider, today inaugurated a state-of-the-art wind turbine blade manufacturing unit in Gujrat.

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New Delhi [India], Mar 25 (ANI): In yet another fun filled afternoon for fashion and sports enthusiasts, India's leading fashion e-tailer, Jabong, hosted a launch event with the legendary Indian Cricket all-rounder Yuvraj Singh unveiling his sports lifestyle brand YWC on the portal.

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New Delhi [India], Mar 25 (ANI): To bridge the huge infrastructure gap, India will need much more participation from the private sector and for these conventional modes of healthcare funding will need to be aided by innovative modes funding to improve healthcare investments in India, reveals a NATHEALTH-PwC Report which was released here today at NATEv2017, an annual seminar organized by the Healthcare Federation of India (NATHEALTH).

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New Delhi [India], Mar 25 (ANI): Oxigen Services, India's largest payment solutions provider, today signed a Memorandum of Understanding with the Department of Tourism, Arunachal Pradesh for becoming the preferred partner for providing digital payment solution to the residents and tourists visiting the state.

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New Delhi [India], Mar 25 (ANI): Union Finance Minister Arun Jaitley on Saturday approved the re-organization of the field formations of the Central Board of Excise and Customs (CBEC) for the implementation of Goods and Services Tax (GST).

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New Delhi [India], Mar 25 (ANI): India and World Bank on Saturday signed a financing agreement for IDA credit of USD 100 (equivalent) for the "Uttarakhand Health Systems Development Project".

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New Delhi [India], Mar. 25 (ANI): Arundhati Bhattacharya, Chairman, State Bank of India (SBI) has been ranked 26th in the fourth edition of Fortune's 'World 50 Greatest Leaders' list.

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Kantar Millward Brown Media Conclave 2017

Updated: Mar 24, 2017 18:27 IST

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New Delhi [India], Mar 24 (ANI): International Monetary Fund (IMF) which has 189 countries as member for Global Monetery co-operation in its conference called the Indian Government to share the success story of Demonetisation.

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New Delhi [India], Mar 24 (ANI-NewsVoir): It has been 24 hours since Layla last had cocaine. Now on a flight to New Delhi with her children, all she can focus on is how quickly she can hook up with her friend and drug baron Leonardo so he can provide her with her next fix unaware of the intergenerational damage her choices will cause.

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