InnoVen Capital raises Rs 740-Cr in first close of new fund

Venture debt firm InnoVen Capital has raised INR 740 crore ($100 million) in the first close of its new fund. The target corpus of the fund is INR 1,000 crore, with a green shoe option to raise an additional INR 1,000 crore. The anchor investor for the fund is Innoven Capital Pte Ltd, a joint venture of Seviora (Temasek) and United Overseas Bank. While the fund is stage and sector agnostic, the primary focus will be on sectors such as consumer internet, B2B commerce, enterprise software, fintech, healthtech and logistics.