TLDR:
• Singapore venture debt provider, InnoVen Capital Group, has raised $130 million for its second China fund, which has a target size of $250 million.
• The fund will focus on industries such as deep tech, enterprise services, consumer, and healthcare, while adhering to ESG investment principles.
• InnoVen Capital Group has invested over $1.3 billion across 350 early and growth-stage companies, with 50 of them turning into unicorns.
InnoVen Capital Group, a venture debt provider based in Singapore, has completed a first close for its second China fund after raising $130 million. The fund, which has a target size of $250 million, aims to support early-stage companies in China. The anchor investors for the fund include joint venture InnoVen Capital Group, asset manager Seviora Holdings, United Overseas Bank (UOB), and two local Chinese government entities. The fund will focus on industries such as deep tech, enterprise services, consumer, and healthcare, and will adhere to ESG investment principles. InnoVen Capital Group has previously invested over $1.3 billion across 350 early and growth-stage companies, with 50 turning into unicorns. The firm’s most recent China exits include Edianyun and Cheche Technology.
