InnoVen Capital is a venture debt firm located in Mumbai which was established by Ajay Hattangdi in the year 2008. Vinod Murali, the managing director of the firm also joined the firm in its opening year itself. They started with a unique idea of entrepreneurship where they lend capital to startups which had achieved some progress.
In this context, recently InnoVen Capital has lent a whooping amount of US$20 million to 15 startups. It is believed to be the highest productive quarter of the firm from the last 8 years. Some of the firms who got funded include Oyo rooms which own a large chain of hotel rooms, Treebo and Fabhotels which are into bargain hotel chains. Furthermore, Rentomojo, an online rental startup, Crownit, a marketing and cash back app, Holachef, a company into food delivery and Raw Pressey, an online portal for freshly pressed juice are also a part of this giant investment. In addition, the existing clients of InnoVen Capital like Voonik, a fashion portal, Bluestone, a jewellery firm, Koye Pharmaceuticals, Faaso’s food and ChaiPoint, a tea startup have also got its share of profits from this investment.
InnoVen Capital also has its deals in finances outside the Indian border where it invests in countries like Singapore including few countries of Southeast Asia also. Furthermore, the firm serves as a networking tool between new entrepreneurs and investors through its InnoVenConnect and InnoVenSupport. It also provides financial, legal and marketing services to new founders. InnoVen has done around 125 investments with around 180 companies and 80 founders. In the initial months of 2016, InnoVen invested an amount of $US12 million into 8 startups. Vinod Murali, the managing director of the firm says that they aim to hit an aggregate of $US60 million to $US70 million in the field of venture debt funding for the year 2016. He also believes in the fact that businesses with strong foundation have the ability to attract capital in both the fields of equity and venture debt.