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Innoven Capital has Rs 300 crore for startups

Innoven Capital expects a two-thirds increase in its deal count as it hopes to lend up to Rs 300 crore to startups by the end of this year.

, ET Bureau|
Updated: Oct 16, 2015, 05.02 PM IST
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Innoven Capital expects a two-thirds increase in its deal count as it hopes to lend up to Rs 300 crore to startups by the end of this year.
Innoven Capital expects a two-thirds increase in its deal count as it hopes to lend up to Rs 300 crore to startups by the end of this year.
BENGALURU: Venture debt provider Innoven Capital expects a two-thirds increase in its deal count as it hopes to lend up to Rs 300 crore to startups by the end of this year.

The investment firm, which was acquired by Singapore’s sovereign wealth fund Temasek Holdings, has closed 20 deals since the beginning of the year and it expects the number to increase to 25 by December end.

“From a velocity perspective, we have doubled as compared to last year,” said Vinod Murali, managing director at Innoven Capital, which closed 15 deals worth Rs 150 crore in 2014. Innoven Capital works with venture capital-backed startups, usually lending them 15-20% of the equity capital they have been able to raise at a coupon rate of 15%.

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